Ford Partners Uber For New Lease Option For Rideshare Drivers Going Electric

(RTTNews) - Ford Motor Company (F), announced on Thursday that its unit Ford Next is collaborating with Uber Technologies, Inc. (UBER), to deliver a lease option for Uber drivers going electric, called Ford Drive.

The new program offers flexible access to Ford vehicles like the Ford Mustang Mach-E models and is launching in San Diego, San Francisco, and Los Angeles. The delivery of Ford vehicles in Los Angeles will begin today.

Rideshare drivers can choose Mustang Mach-E for one and fourth increments. The vehicle will be delivered to them in two weeks and they can use the Ford Drive app to manage payments and services.

The Ford Drive team works in tandem with local dealers to purchase Mustang Mach-Es in each city. The service and maintenance of the vehicle can be done through the dealers too, the company said.

"Ford is investing more than $50 billion in electric vehicles through 2026. As part of its Ford + plan, Ford is working to deliver a 600,000 EV production run rate globally by the end of this year and 2 million globally by the end of 2026.", the company stated.

In premarket activity, shares of Ford Motors are trading at $12.05 up 0.42% or $0.05 on the Nasdaq. Uber shares were trading at $38.07 up 0.37% or $0.14 on the New York Stock Exchange.