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Benzinga
Benzinga
Badar Shaikh

Uber Offers Up To $2,000 For Colorado EV Drivers — State And Federal Incentives Push Savings Higher (CORRECTED)

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Editor's Note: This article has been updated to clarify details of Uber's EV incentive program.

Uber Technologies Inc. (NYSE:UBER) is rolling out a new EV incentive program by partnering with the Colorado Department of Public Health & Environment (CDPHE), offering drivers up to $2,000 directly. When combined with Colorado state and federal EV incentives, total potential savings can reach $21,500.

$100 For Every 100 EV Trips, $6000 Colorado State Incentives

The company announced a host of incentives for drivers in a press release published on Wednesday. Drivers can earn $100 for every 100 trips completed in an electric vehicle, up to a maximum of $2,000 through Uber's incentive program, the company said.

The statement also said that drivers can qualify for up to $6,000 in Colorado state credits on the purchase of a new EV, as well as $6,000 for trading in an old vehicle. These state incentives can be stacked with the $7,500 federal EV credit. Combined with Uber's $2,000 incentive, total potential savings can reach $21,500.

Test Drives, Additional $210 For 200 EV Trips

Uber also announced that drivers can get free test drives of any EV model at an event it will be hosting on Aug. 27. Additionally, drivers can earn an extra $210 for every 200 EV trips completed during 30 days.

Uber's Autonomous Taxi Plans, ‘Super App' Plans

The news comes as Uber has said that it plans to sell a stake in the company to fund its Robotaxi operations and unveiled different Robotaxi business models, under which the ride-hailing giant will operate autonomous cabs. The company also plans to create a "Super App" which will offer a host of Uber's various services under one umbrella. 

"Fewer than one in five of our consumers are active across both mobility and delivery, and we believe this can and will go much higher over time," Khosrowshahi said, adding that the company is "building towards" a super app.

Uber's Robotaxi Deal With Lucid, Company Welcomes Tesla's Robotaxi Efforts

Uber also recently signed a deal with Lucid Group Inc. (NASDAQ:LCID) to deploy over 20,000 Lucid Robotaxis on its platform over the next six years, with plans to kick off operations in a major U.S. city next year.

The company also welcomed Tesla Inc.'s (NASDAQ:TSLA) Robotaxi efforts. Khosrowshahi said that Elon Musk's EV giant could be a competitor, but added that "there will be no winner-take-all in this marketplace," which is said to be worth $1 trillion in TAMs.

Uber offers Satisfactory Value, but scores well on the Momentum and Growth metrics. For more such insights, sign up for Benzinga Edge Stock Rankings today!

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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