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Uber’s "One Less Car" Initiative: $1K in Credits for Commuters

Quiver Editor

Uber (UBER) is set to pay $1,000 in credits to certain commuters in the U.S. and Canada who opt for public and alternative transport services for five weeks instead of using their cars, as part of its "One Less Car" initiative. The ride-hailing and food delivery platform aims to reduce emissions and promote eco-friendly transportation options. The initiative will commence on July 22 and target up to 175 car owners in cities including Los Angeles, Chicago, Washington D.C., Miami, San Francisco, Toronto, and Vancouver.

Under the incentives program, participants will receive $500 in Uber app credits, a $200 voucher for car rental or car-sharing services, and $300 for use on alternative modes of transport, such as public transport. This move aligns with Uber’s ongoing efforts to encourage the adoption of electric vehicles (EVs) and its pledge to support the transition of its driver partners to EVs by 2040, with a commitment of $800 million. Uber has also partnered with Hertz (HTZ) to offer Tesla (TSLA) cars as a rental option for its drivers in the U.S. and Europe.

Market Overview:
  • Uber offers $1,000 in credits for commuters to switch from cars to public transport.
  • The "One Less Car" initiative starts on July 22 in major U.S. and Canadian cities.
  • Uber’s ongoing commitment to reducing emissions and promoting EVs.
Key Points:
  • Up to 175 car owners will be eligible for the five-week program.
  • Participants receive credits for the Uber app, car rental, and alternative transport.
  • Uber's collaboration with Hertz for Tesla rentals to promote EVs.
Looking Ahead:
  • Monitoring the impact of the initiative on commuter behavior and emissions.
  • Evaluating the success of Uber’s incentives in promoting alternative transport.
  • Anticipating further measures by Uber to support environmental sustainability.

The initiative comes after a similar campaign in Australia, which saw commuters opting for walking, cycling, and ride-sharing after ditching their cars. Uber's efforts are part of a broader strategy to reduce the number of private vehicles on the road and promote greener transportation options. The U.S. has approximately 233 million private vehicles, with about 80 million driven less than 10 miles daily, according to Uber.

The move also aligns with the expectations of transport operators and major U.S. airlines, which foresee robust tourist activity and travel this summer. By offering incentives and promoting alternative transport, Uber aims to make a significant impact on the environment and continue its push towards a more sustainable future.

About the Author

David Love is an editor at Quiver Quantitative, with a focus on global markets and breaking news. Prior to joining Quiver, David was the CEO of Winter Haven Capital.

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