Uber teams up with auto makers to make low-cost EV for ride sharing

Yahoo Finance Live anchors discuss news that Uber is working with auto makers to design low-cost ride-sharing EVs.

Video transcript

JARED BLIKRE: And we will have to round out the discussion here by talking about Uber and the future of ride sharing and delivery heading potentially electric. Uber is working with automakers to design a low-cost EV for its ride-hailing business. And the company also said that they are considering smaller vehicles with two or three wheels and trunk space that leaves a smaller footprint.

And, Brad, I've got to say, I think transportation-- I think already it's kind of bifurcated. You have what you have to use in order to get from point A to B, making a few concessions, and then you've got your ride in style. If you have-- if you're in the city here and you have enough money, you can have that car. I personally don't have one.

BRAD SMITH: I was going to say, can I say-- can I say how you are mobile around the city? Can I tell our viewers that?

JARED BLIKRE: Please, please.

BRAD SMITH: Jared has one of the most high-powered scooters that I have ever seen, and you're able to use what I believe the micromobility lanes.

JARED BLIKRE: Yes.

BRAD SMITH: I've seen you zooming around in those.

And you've got to imagine if for Uber, if they're able to do this successfully and they're able to-- because Dara Khosrowshahi had talked about a vehicle that has maybe two or three wheels and trunk space. That perhaps allows them that ability to use that micromobility lane a little bit more. And then you start thinking about what this means for the congestion fees that a lot of customers of Uber, either for a ride or for a delivery, that they may have to incur and whether that would start to be rolled back or reconsidered. Now, it depends upon the jurisdiction, obviously. But I think that could also have some type of pricing-mechanism change too that perhaps we can be a beneficiary of.

JARED BLIKRE: I think we're going to benefit a lot from all of this. The average person in a congested city, a congested suburb, wherever it is, this is going to open up-- not just this. I mean technology in general over the next 10 years going to open up vast numbers of opportunities to declutter our lives. And maybe we're all not going to own an SUV, but we're going to get from point A to B a lot more quickly and a lot more efficiently, I hope.