Tesla vehicles rented by 15K Uber drivers through Hertz partnership

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Just eight months after Uber partnered with Hertz, more than 15,000 of the ride-hailing company's drivers are taking advantage of its Tesla rental program.

Ticker Security Last Change Change %
UBER UBER TECHNOLOGIES INC. 22.08 -0.78 -3.41%
HTZ HERTZ GLOBAL 17.64 -0.72 -3.92%
TSLA TESLA INC. 697.99 -36.77 -5.00%

The partnership, which aims to make up to 50,000 Teslas available for rental by 2023, is available to Uber drivers in more than 30 U.S. cities.

Tesla rentals through Uber and Hertz’s partnership start at $334 per week. An Uber spokesperson told FOX Business that the rental price will drop to $299 or lower as the program continues. (Uber)

Tesla vehicles available through the partnership include the 2021 and 2022 Model 3 Standard Plus and the 2021 and 2022 Model 3 Long Range. Uber says its drivers have already completed more than 5 million fully-electric trips and driven over 40 million electric miles through the Tesla rentals with Hertz. 

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Eligible drivers must have completed at least 150 trips and maintain a 4.85-star rating to rent a Tesla through the Hertz partnership, which starts at $334 per week, excluding taxes and fees.

An Uber spokesperson told FOX Business that the rental price will drop to $299 or lower as the program continues. All rental offers include vehicle maintenance and insurance.

Drivers who use electric vehicles can earn special incentives, such as $1 per trip or up to $4,000 annually. They are also given access to Tesla's Supercharger network and Uber's exclusive EVgo discounts to help boost savings on gas. 

"The program is a win for drivers, who are expressing pride in being part of the climate solution and are welcoming increased earnings through gas savings, electric vehicle incentives, and tips," Andrew Macdonald, Uber's senior vice president of mobility and business operations, said in a statement. "And it’s a win for riders too, who are enjoying more rides in Teslas than ever before." 

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According to the ride-hailing giant, 95% of its drivers renting Teslas through Hertz have not driven an electric vehicle on its platform before. It also notes that 92% of them are considering purchasing an electric vehicle. 

In addition to the Hertz partnership, Uber is offering access to Tesla's Model S, Model 3, Model X, and Model Y through its Comfort Electric program, which is currently available in Los Angeles, San Francisco, San Diego and Dubai, with more cities to come. 

Ticker Security Last Change Change %
VLVLY VOLVO AB 16.09 -0.14 -0.86%
F FORD MOTOR CO. 11.82 -0.23 -1.91%
VWAGY VOLKSWAGEN AG 19.54 +0.20 +1.01%
GM GENERAL MOTORS CO. 34.01 -0.62 -1.80%
BMWYY BAYERISCHE MOTOREN WERKE AG 26.59 -0.11 -0.42%
TTM TATA MOTORS LTD. 26.24 -0.14 -0.53%
DMLRY MERCEDES-BENZ GROUP AG 15.28 -0.26 -1.67%

Other vehicles available through Uber Comfort Electric include Volvo's Polestar 2, Ford's Mustang Mach-E, Volkswagen's Audi e-Tron and Porsche's Taycan, General Motors' Cadillac Lyriq, BMW's iX, Tata Motors' Jaguar I-PACE and Mercedes-Benz's EQS. Hertz entered an agreement in April to buy up to 65,000 Polestar electric vehicles over the next five years.

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Uber, which has more than 19,000 battery EV drivers active on its platform globally, offers exposure to EV technology and zero-emission trips to nearly 2 million riders a month. 

The company has committed to making $800 million in resources available to help hundreds of thousands of drivers transition to battery electric vehicles by 2030. 

The move comes as the national average gas price stands at $4.88 per gallon as of Tuesday, according to AAA.

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