Uber Technologies Inc. (NYSE: UBER) Commits $6.5 Million to Building EV Charging Stations in London
Nov 2, 2020
The UK is one of numerous countries that have pledged to phase out internal combustion-powered vehicles in favor of electric vehicles (“EVs”). In summer 2019, then Prime Minister Theresa May signed into law the groundbreaking target of achieving net-zero carbon emissions by 2050. However, one factor that has consistently stood in the way of widespread EV adoption, especially in the less-affluent boroughs of London, is poor charging infrastructure.
To help combat this, global ride-hailing giant Uber Technologies (NYSE: UBER) has pledged to invest more than £5m in public, electric-vehicle charging infrastructure. Uber’s analysis shows that the concentration of public EV chargers is far higher in more affluent boroughs such as Kensington and Westminster compared to boroughs…
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