KIMTF - Uber will subsidize London drivers switching to Teslas

Tesla (TSLA +0.6%) cars will now be available for Uber (UBER +5.3%) drivers in London to buy or lease as part of the ride-hailing company's incentive program to expand electric vehicle usage. In January 2019, Uber London added a clean air fare of 15 pence per mile to help assist drivers with the cost of switching to more sustainable vehicles. Through the program, Uber has raised €135M ($156M). An Uber spokesperson said that the typical driver has about €3,500-€4,000 ($4,000-$4,600) available through the program to spend on switching to greener vehicles, depending on how many miles they have driven. The plan only allows drivers to swap to specific vehicles, including those made by partners Nissan (OTCPK:NSANY -0.2%) and Kia (OTCPK:KIMTF). Now, drivers will have the choice to use the funds to get a Tesla. Uber says that more than 4,000 drivers have made the swap to EVs in London and over

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Uber will subsidize London drivers switching to Teslas