Adani And Uber Team Up For Large-Scale EV Adoption In India: Report

Adani Group is joining forces with Uber to introduce electric cars to the ride-hailing company’s platform. This collaboration is part of a broader strategy to integrate Uber into Adani’s multifaceted digital platform, Adani One.

What Happened? Gautam Adani, the chairman of Adani Group, and Uber CEO Dara Khosrowshahi initiated the discussion for this partnership during a meeting on February 24 as per a Times of India report. While Adani is not a car manufacturer, the group plans to purchase and brand electric cars for Uber’s fleet, leveraging its significant requirements in its ports and airport businesses. This move aligns with Uber’s global goal to become a zero-emission platform by 2040, replacing its current fleet with electric vehicles.

This partnership is poised to transform the electric vehicle landscape in India. By providing electric cars for commercial use, Adani and Uber could stimulate the mass adoption of eco-friendly transportation, a critical step for manufacturers looking to scale up and become economically sustainable. Additionally, this could significantly boost India’s gig economy, given Uber’s extensive network and impact since entering the country in 2013.

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More reasons for a collaboration: Furthermore, the collaboration aligns with Adani Group’s commitment to renewable energy, including the development of electric vehicle charging stations across India. This synergy not only promotes sustainable transportation but also propels Adani One’s growth, offering services like flight and cab bookings, with Uber now integrated into this ecosystem.

Adani Group’s $100 billion investment in India's green energy over the next decade, along with plans to increase solar manufacturing, further underscores the strategic importance of this partnership, especially in the context of Uber’s competition with Ola, another ride-hailing service gearing up for its IPO and investing in electric vehicles.

Price Action: Adani Enterprises Ltd. shares were trading 1.48% higher at ₹3,321.75 on Monday morning.

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Posted In: EquitiesNewsRumorsContractsMarketsTechAdani GroupDara Khosrowshahielectric vehiclesGautam AdaniUber