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Speaker 1: Uber Technologies wants to cut emissions to zero by converting

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Speaker 1: its entire fleet of cars to electric by twenty forty,

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Speaker 1: but to do so, the ride hailing giant will need

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Speaker 1: support from both drivers and riders. CEO Dara Kastrashahi explains

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Speaker 1: the company's new sustainability features to Bloomberg's Emily Chang.

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Speaker 2: So we get to ride in an Uber with the Uber.

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Speaker 3: CEO, Yeah, that'd be pretty coold.

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Speaker 2: Do you get special treatment on the app?

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Speaker 3: Or do not get special treatments?

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Speaker 2: Call an electric car? Right now? Whose comes first? Yours

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Speaker 2: are mine.

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Speaker 3: It's an open marketplace defense you never know who comes

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Speaker 3: in first.

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Speaker 2: I like to do it.

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Speaker 3: It's a bigger destination. You can see lots of options.

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Speaker 3: You can go comfort electric, you can go green, can

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Speaker 3: get shared, you can get a line scooter.

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Speaker 2: There's a ten options here right now.

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Speaker 1: More than ten options, a lot of options.

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Speaker 4: Are you at all worried about overwhelming consumers?

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Speaker 3: You know going green is going to take some time,

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Speaker 3: and we want to give as many choices to consumers

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Speaker 3: so that they can pick the go green on their

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Speaker 3: terms the way it's the way that they want. But

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Speaker 3: let's go comfort electric. Since there are two of us

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Speaker 3: in the car. H here's Haley, Hello, are you I'm good?

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Speaker 2: What is Uber's current carbon footprint.

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Speaker 3: It's pretty significant. Generally, the footprint is based on essentially

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Speaker 3: all the miles driven. We completed two billion trips this

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Speaker 3: last quarter, and we've got to do everything that we

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Speaker 3: can in order to reduce that footprint. And we committed

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Speaker 3: that by twenty thirty in the US and Europe and Canada,

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Speaker 3: we're going to be all electric, and by twenty forty

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Speaker 3: we're going to be electric all over the world.

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Speaker 2: That's an ambitious target.

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Speaker 4: Uber wants to cut emissions entirely, so for this right

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Speaker 4: haling giant, that means getting to total electrification, which would

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Speaker 4: be nothing short of a green miracle. It's all part

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Speaker 4: of the company's sustainability agenda called Go Get Zero. So

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Speaker 4: let's paint the whole picture for me, this whole Go

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Speaker 4: Get Zero push.

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Speaker 2: What's the goal and how will you get there?

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Speaker 3: The goal is to go electric and create the incentives

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Speaker 3: for drivers to go electric as quickly as possible, in

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Speaker 3: riders to pick electric as well. So the smart charging

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Speaker 3: technology is allowing drivers to know when and where to charge,

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Speaker 3: to feel safe, to get routes that are efficient. Then

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Speaker 3: on the rider side, one new feature that we're introducing

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Speaker 3: is actually a feature for you to see how much

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Speaker 3: you're saving in terms of emissions. So when you get

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Speaker 3: that green car or when you get that comfort electric,

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Speaker 3: we'll show you how much you're helping out the environment,

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Speaker 3: how many emissions you're saving. We have to get that

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Speaker 3: flywheel together. We need drivers to choose electric, and then

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Speaker 3: we're gonna put more and more electric options in front

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Speaker 3: of the consumers as well. How much core does it

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Speaker 3: cost to ride electric if you're taking green Actually it's

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Speaker 3: the same exact price as an uber XP.

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Speaker 2: So are you taking the one or does the driver

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Speaker 2: take the hit on them? Where does that cost?

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Speaker 3: We take the hit? So we've said that we are

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Speaker 3: investing eight hundred million dollars in the transition to electric,

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Speaker 3: and we've got to make it economically sensible for drivers. So,

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Speaker 3: for example, our take rate on electric rides is lower

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Speaker 3: because right now, generally evis cost more than combustion.

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Speaker 2: At rights, our driver is going to buy electric. There's

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Speaker 2: the sticker truck gas races. If we should like it's.

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Speaker 3: Extensive, It is expensive, and you've got to start somewhere

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Speaker 3: And what we're seeing now is, first of all, prices

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Speaker 3: are coming down, right, Tesla prices are coming down. But

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Speaker 3: at the same time, for example, we're partnering up with

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Speaker 3: Hurts to allow drivers who may not be able to

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Speaker 3: afford that ev the option to rent electric vehicles as

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Speaker 3: well in a very affordable manner.

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Speaker 2: So I asked my driver today, my Uber driver today,

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Speaker 2: if you would switch to electric and he said, absolutely not.

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Speaker 2: He said, the grid's not ready.

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Speaker 5: Mm hmm.

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Speaker 2: What about the range anxiety? What about the time it

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Speaker 2: takes to charge when you could you could be driving,

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Speaker 2: you could be making money.

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Speaker 3: Yeah, those are real issues and I do think that

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Speaker 3: as it relates to charging, we're introducing now smart charge

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Speaker 3: and routing technology.

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Speaker 2: How does that work.

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Speaker 3: What it does is when you go out and start driving,

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Speaker 3: based on your earnings opportunity city, we will identify smart

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Speaker 3: locations for you to charge, will tell you when you

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Speaker 3: should charge because even the charging cost go up and

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Speaker 3: down on a daily basis or based on different locations.

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Speaker 3: And another really cool technology that we're introducing is actually

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Speaker 3: smart routing as well. We use AI algorithms so that

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Speaker 3: if let's say you're at a twenty five percent charger

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Speaker 3: thirty percent charge. We won't send you on a really

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Speaker 3: long trip. Well, we're not going to send you on

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Speaker 3: a trip that is in a charging desert. We're going

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Speaker 3: to make sure that there are plenty of chargers around.

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Speaker 3: Last tech that we're introducing is actually for airport, So

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Speaker 3: for example, you can go to airports and you can charge,

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Speaker 3: but you can keep your place in line, so as

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Speaker 3: soon as you're done charging, you can go pick off

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Speaker 3: the traveler coming in.

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Speaker 2: Time to charge up.

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Speaker 4: All right, Yes, does the charge time bother you?

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Speaker 5: I mean, in honesty does Yeah? It's different and it's

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Speaker 5: something to get used to. I don't like waiting too

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Speaker 5: long before I have to go.

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Speaker 2: Why did you buy a Tasla?

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Speaker 5: The pricing, like with gas right now so expensive. I

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Speaker 5: come from spending four hundred dollars a week to spending

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Speaker 5: one to fifty a week, and that's a major deal. Wow,

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Speaker 5: especially when it comes to budgeting.

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Speaker 2: Do you think Weber's treating drivers right?

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Speaker 5: I do. I think they should be able to pay

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Speaker 5: a little more. I think the benefits should be better,

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Speaker 5: like like healthcare, paid time off, just regular benefits that

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Speaker 5: you know every other job gets.

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Speaker 1: When we started out, no one believed it.

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Speaker 4: They were in EV's, there were no one was producing EV's,

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Speaker 4: and now.

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Speaker 3: The industry has accepted that electric vehicles are in the future.

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Speaker 3: So it's pretty well.

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Speaker 2: Do you talk to Elon lunch?

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Speaker 3: I've talked to them a couple of times. Usually we

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Speaker 3: talk about electrification, right, we want more Teslas on our fleet.

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Speaker 3: I think it is great that they're aggressively lowering prices

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Speaker 3: because now Tesla's are becoming more affordable.

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Speaker 2: Now there is a question about the brand.

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Speaker 4: Elon has taken a big reputational hit because of what's

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Speaker 4: happened to Twitter.

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Speaker 2: I've heard not a few people say, my next car.

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Speaker 4: Is not going to be a time.

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Speaker 2: How does that play out?

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Speaker 3: I think it's tough to tell. The fact is that

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Speaker 3: Tesla's are the highest selling cars in terms of electric

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Speaker 3: vehicles by mile. At the same time, we're not you know,

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Speaker 3: we want electrification to happen, and that's not just going

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Speaker 3: to happen with Tesla.

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Speaker 4: You know, we need.

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Speaker 3: Forwards out there, GM's out there, Toyota's out there, et cetera.

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Speaker 3: We need all these other players to go electric. The

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Speaker 3: biggest obstacle is getting all of these independent parties, all

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Speaker 3: of these companies, all of these governments and then consumers

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Speaker 3: to work together in a way for single goal, which

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Speaker 3: is electrification. So we're saying, hey, let's as Uber, we

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Speaker 3: should take a lead in electrification and in the end,

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Speaker 3: it's good business to go for it. Right.

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Speaker 2: San Francisco still hasn't recovered from the pandemic. What are

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Speaker 2: UBER levels?

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Speaker 3: Well, when we look at San Francisco in terms of

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Speaker 3: Uber and how it's come back pre pandemic, san Francisco

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Speaker 3: honestly is pretty low on a global basis in terms

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Speaker 3: of trips where well above pre pandemic level. We're going

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Speaker 3: through a particularly difficult time. But never bet against the

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Speaker 3: tech sector and never bet against San Francisco coming back.

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Speaker 1: That's Uber CEO Darra Costrashahi speaking with Bloomberg's Emily Chang.

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Speaker 1: For more interviews like this, subscribe to the Bloomberg Box podcast,

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Speaker 1: available on Apple, Spotify, and anywhere else you get your podcasts.