Uber Technologies announced its plans to launch electric vehicles for ride-sharing in India, according to a Reuters article published on February 20. The move marks the company's first step towards adopting cars powered by clean energy, which is in line with the Indian government's efforts to electrify public transport and shared mobility.

Uber plans to introduce approximately 25,000 EVs over the next three years, increasing competition with local competitor and BP-backed electric mobility start-up BluSmart, which has been a leader in India's electric rideshare market. According to Uber India and South Asia President Prabhjeet Singh, Uber's fleet partners plan to purchase EVs from Tata Motors, India's largest EV manufacturer. Singh believes that the success of EV rideshares depends on factors such as affordable vehicles with long ranges, a mature financing ecosystem and widespread charging infrastructure.

"We are going to be a big catalyst in accelerating the [EV] ecosystem," Singh said.

Uber's EV push marks the largest EV deal made by a rideshare company, with the Softbank Group-backed market giant currently discussing the matter with other car manufacturers, charging companies, fleet operators and financiers.

Nonetheless, Uber's EV push represents the largest deal for EVs by a ride-sharing firm, with the Softbank Group-backed (9984.T) ride-hailing giant in "active" discussions with other car manufacturers, charging companies, fleet operators, and financiers, according to Singh.