BYD lands deal to supply Uber 100,000 EVs, fuelling its overseas expansion drive

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This is the Shenzhen-based carmaker’s largest supply deal since 2022 and comes in the wake of punitive tariffs imposed by the US and EU to deter Chinese EV exports

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BYD has signed a deal with Uber to supply the ride-hailing platform 100,000 cars. Photo: Reuters

Daniel Renin Shanghai

Published: 2:30pm, 1 Aug 2024

A partnership between ride-hailing giant Uber and BYD is a boost for the world’s largest electric vehicle (EV) maker’s expansion plans, following punitive tariffs levied by the US and the European Union (EU) on Chinese car exports.

The Shenzhen-based BYD will supply 100,000 EVs to Uber globally, the two companies said in a statement on Wednesday evening. The cars will be introduced to markets including the Middle East, Canada, Australia and New Zealand.

“The companies aim to bring down the total cost of EV ownership for Uber drivers, accelerating the uptake of EVs on the Uber platform globally, and introducing millions of riders to greener rides,” Uber said.

It is the largest supply contract BYD, which counts Warren Buffett’s Berkshire Hathaway as a minority shareholder, has secured outside mainland China since 2022, as its cars have become increasingly popular around the world because of their affordability and battery performance.

BYD and its domestic peers are now grappling with trade barriers in developed markets after authorities in the US and the EU slapped punitive tariffs on Chinese-made EVs to protect their own car industries.

In May, the White House announced a quadrupling of tariffs on Chinese-made EVs, which now stand at 100 per cent. In July, additional duties of 17.4 to 37.6 per cent came into effect provisionally in the EU.