Ford launches pilot program that allows Uber drivers lease electric vehicle for customized time period
Ford Motor Co. (F) said Thursday it has launched a pilot program that will allow Uber drivers going electric to lease vehicles for more customized time periods. The pilot program has started in San Diego, San Francisco and Los Angeles, where Uber (UBER) drivers can now sign up on the Uber marketplace. "A flexible lease allows rideshare drivers to select their Mustang Mach-E for between one- and four-month increments, depending on the location," Ford said in a statement. The vehicle is delivered to the driver within two weeks, and they can use the Ford Drive app to manage payments and service. California is Uber's biggest North American market for EV uptake with close to 10% of all on-trip miles completed in fully electric vehicles as of late 2022. The pilot is the first of its kind between a car maker and a rideshare network. Ford's stock has gained 3% in the year to date, while the S&P 500 has gained 9%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
06-01-23 0612ET
Copyright (c) 2023 Dow Jones & Company, Inc.