When you joined Uber in 2012, did you expect the company to grow as much as it has?
Absolutely not. People often tell me, "Wow, you joined Uber in 2012. How did you know it was going to be a company that would change the world? That was such a smart decision." But honestly, it was more about luck and my personal experience with the product. I liked it and wanted to help build it. Looking back, the company had a bold ambition from the start, with a mission to help people go anywhere at the tap of a button. While the potential was there, I didn't foresee it becoming what it is today.
In what ways do you think Uber has changed the world, perhaps beyond what a regular customer might see?
Uber has fundamentally made cities more livable. We've created transportation systems where none existed before and generated millions of jobs, offering flexible work options for many. We've enhanced global travel, reduced drunk driving by providing reliable alternatives, and are now leading the green transition. Our impact spans creating job opportunities, transforming urban mobility, and contributing to global climate targets. The changes we've made have set the stage for even more impactful developments in the future.
Let's discuss Uber's efforts in the green transition, particularly with electric vehicles (EVs). What are your goals and initiatives in this area?
Our goals are quite ambitious. We aim to achieve 100% zero-emission vehicles on our platform in the US, Canada, and Europe by 2030, and globally by 2040. Additionally, we plan to eliminate unnecessary plastic packaging in our delivery business by 2030. These targets require a team effort, involving partnerships with industry leaders for charging infrastructure and EVs, pressing for supportive government policies, and ensuring equitable access to charging.
Our initiatives include collaborations like the one with Revel for charging infrastructure and incorporating 25,000 EVs into our fleet. We focus on placing charging infrastructure in neighborhoods where it’s most needed, such as areas where our drivers live, which often lack existing facilities. We also work on making EVs more affordable by advocating for government subsidies, developing an accessible second-hand EV market, and supporting the production of economy-level electric vehicles.
How does Uber act as a catalyst for the external aspects of the green transition that are beyond your direct control?
We are committed to investing significantly in this transition. For example, we've pledged $800 million to help drivers switch to EVs, which includes subsidies and incentives. We’ve partnered with companies like Kia in the UK to provide financial support to drivers transitioning to EVs. Historically, we've offered trip bonuses to EV drivers to make the switch economically favorable.
On the consumer side, we’re enhancing our product offerings with options like Uber Green, Comfort Electric, and UberX Share, which promote shared and electric rides. These products are available in over 200 cities globally and are designed to make green choices more attractive and economical for both drivers and consumers. In fact, we’re quickly becoming the most widely available electric car network in the world. Our investments and initiatives create a positive feedback loop, driving further adoption of zero-emission vehicles.
Is your investment in the green transition proving to be economically efficient for Uber?
Going green is good business for us. While it’s challenging to quantify the return on investment (ROI) for everything, some impacts are clear. Drivers are adopting EVs five times faster than the general population, and a significant portion of our rides are now electric. Our green consumer products, like Uber Green and Comfort Electric, are popular and growing businesses.
Additionally, these initiatives enhance our brand. Customers recognize and appreciate our leadership in climate efforts, which strengthens brand loyalty and value. While some benefits are harder to measure, like brand sentiment, we believe there is significant ROI. Ultimately, our commitment to sustainability aligns with our core value of doing the right thing, which drives long-term success.
How do client preferences for services like Uber Green vary across different regions, especially between developed and developing markets?
The transition to sustainable transportation varies across regions due to differences in GDP, fare structures, and economic conditions. Developed markets might have higher fares and GDP, allowing for quicker adoption of electric vehicles. In contrast, developing markets require more affordable solutions.
For instance, in Latin America, the fastest-growing segment on our platform is electric two-wheelers, such as motorcycles and bikes, due to their lower cost of entry. This trend is prominent in cities like Buenos Aires, Mexico City, and São Paulo. We also see significant investments from Chinese OEMs like BYD in these regions, which helps lower costs for drivers and increases adoption rates.
Additionally, we often collaborate with fleet partners in these markets to provide electric vehicles to drivers at reduced costs. Despite the economic differences, consumers in all regions care about sustainability and are eager to make environmentally friendly choices when feasible.
How does Uber maintain its innovative edge and agility despite being a market leader?
Uber's team is driven by a deep belief in our mission. Many employees have personally felt the impact of our product, whether through personal use or knowing someone who benefited from driving for Uber. This connection to our mission fuels innovation and dedication.
We have a cultural value of celebrating cities and striving to improve the quality of life for urban residents. This mission-driven approach leads us to set ambitious goals and make significant commitments, even when the ROI isn’t immediately clear. Our focus on mission and impact keeps us agile and continually pushing for new innovations.
Looking to the future, what are some trends or technologies in transportation that excite you the most?
We believe the future of transportation is multimodal, electric, shared, and autonomous. This vision includes a significant reduction in individual car ownership, with all mobility options available at the push of a button, all being environmentally friendly and cost-effective.
The transition to this future is ongoing, with advancements in technology and infrastructure gradually making it a reality. While some aspects of this vision are still developing, the long-term impact on city transportation will be profound, transforming how people move and live in urban areas.
