Adani Group is India's third-largest business house by market capitalization, is now looking to venture into electric cars. The group is in talks with Uber Technologies for a strategic partnership to make its entry into this sector. The goal is to introduce its electric passenger car on Uber Technologies' ride-hailing platform and establish a presence on the group's super app Adani One.
The collaboration also aims to integrate Uber's services into Adani One, which was introduced in 2022. This development was part of a meeting held between Adani Group Chairman Gautam Adani and Uber CEO Dara Khosrowshahi on February 24.
The Adani Group is set to explore the electric passenger vehicle market, with the partnership with Uber expected to expedite this process. While they are already involved in electric commercial vehicles like buses, coaches, and trucks, they do not engage in vehicle manufacturing. With significant domestic requirements in their ports and airport operations, the Adani Group plans to purchase cars, rebrand them, and incorporate them into Uber's network. They recently participated in a government tender for 3,600 electric buses.
Uber's Objective
Uber's objective is to transition its global fleet to electric vehicles, aiming to become a zero-emission mobility platform by 2040. The Adani-Uber partnership holds promise for increasing the adoption of electric four-wheelers in India. A widespread shift to electric vehicles could significantly benefit India's gig economy. Since entering India in 2013, Uber has completed over 3 billion trips and now operates in 125 cities.