Tesla Teams Up With Uber, Offer Drivers Up To $3K in Savings On Electric Cars

Tesla Inc. (NASDAQ:TSLA) on Wednesday forged a partnership with Uber (NYSE:UBER) to offer its electric cars to Uber drivers at a discounted rate, with savings of up to $3,000.

What Happened: This alliance supports Uber’s continued commitment to vehicle electrification, Electrek reported. Back in 2020, Hertz, the car leasing company, made a significant stride towards electrifying its fleet by placing an order for 100,000 Tesla Model 3 cars. Hertz subsequently provided its drivers with access to these cars through a partnership with Uber.

Fast forward to the present, Tesla has agreed to sell its vehicles directly to Uber drivers through the ride-hailing platform. The Uber ‘vehicle marketplace’ offers drivers the opportunity to buy new or used cars at discounted prices. With this new deal, Tesla emerges as a “partner” on this platform, offering savings of up to $3,000 on Model 3 and Model Y vehicles, dependent on the driver’s rating.

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Both Tesla and Uber are funding these discounts for vehicles delivered by December 2023. This initiative aligns with Tesla’s year-end goal of delivering a record number of vehicles and achieving its 2023 guidance of 1.8 million vehicles. Concurrently, Uber drivers are obliged to complete 100 trips by February, which benefits Uber.

Why It Matters: This partnership is interesting, considering that in August, Future Fund’s Gary Black suggested the idea of Tesla acquiring Uber to bolster its Robotaxi service and gain access to Uber’s 137 million customers who take 25 million trips per day. Though some Tesla influencers opposed this proposal, the current partnership between Tesla and Uber indicates a strategic alignment of their business models to promote electric vehicles and sustainable transportation.

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