• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Despite a $45 million net worth, Big Bang Theory star Kunal Nayyar still works tough, 16-hour days—he repeats this mantra when he's overwhelmed

2

A $1,000 loan kept MacKenzie Scott in college—now the billionaire philanthropist is giving away her $37 billion fortune to pay it forward

3

Mark Cuban wants to solve wealth inequality by making employers choose between paying higher taxes or giving every member of staff company stock

1

Despite a $45 million net worth, Big Bang Theory star Kunal Nayyar still works tough, 16-hour days—he repeats this mantra when he's overwhelmed

2

A $1,000 loan kept MacKenzie Scott in college—now the billionaire philanthropist is giving away her $37 billion fortune to pay it forward

3

Mark Cuban wants to solve wealth inequality by making employers choose between paying higher taxes or giving every member of staff company stock
Uber Technologies

Uber Will Bump Its London Prices in Electric Car Push

By
Don Reisinger
Don Reisinger
Down Arrow Button Icon
By
Don Reisinger
Don Reisinger
Down Arrow Button Icon
October 23, 2018, 12:18 PM ET
Add Fortune on Google for similar content.

Uber is moving forward with a new surcharge to help London drivers move to an all-electric vehicle.

Starting early next year, Uber will begin charging riders 15 pence per mile on every trip booked in London. One penny of that will go to drivers to help them buy electric cars, according to CNBC, which earlier reported on the move. Overall, Uber expects to raise £200 million ($260 million) through the charge and ultimately give drivers £1,500 ($1,946) to drivers each year.

Uber’s surcharge is part of a broader effort by the company to address air pollution in London. Uber has a slew of drivers making their way around the city, but few have electric cars. Changing its footprint to electric cars could ultimately help London and from a gas-savings perspective, help to reduce costs for its drivers.

Still, Uber cautioned this can’t—and won’t—happen overnight. The company has currently pegged a target date of 2025 for it to move entirely to all-electric cars. According to CNBC, Uber anticipates having 20,000 drivers upgraded to electric cars by 2021. That’s a little less than half the 45,000 drivers currently in the city.

In addition to supporting drivers, Uber plans to use the cash to fund other initiatives in London aimed at improving the environment.

About the Author
By Don Reisinger
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.