Adani Group, Uber to form JV to help expand fleet on green energy?

February 24, 2024
In a thrust to the government's green energy goals, the Adani Group and Uber may soon announce a joint venture

New Delhi, Feb 24 (IANS) In a thrust to the government’s green energy goals, the Adani Group and Uber may soon announce a joint venture (JV) to help the global ride-hailing major expand its fleet that runs on alternative and renewable energy, sources said on Saturday.

With this, Uber’s fleet in the country is likely to grow to 200,000 vehicles in the short term, people close to the development told IANS.

According to sources, the Adani Group is likely to explore partnerships with major Indian vehicle manufacturers to further build the fleet in the key sunrise sector.

This JV will also provide employment opportunities to several thousands of people directly and indirectly, according to people close to the matter.

On Saturday morning, Adani Group Founder and Chairman Gautam Adani met Uber’s global CEO Dara Khosrowshahi and discussed future collaborations, as the country doubles down on green and sustainable energy.

“Absolutely captivating chat with @dkhos, CEO of @Uber. His vision for Uber’s expansion in India is truly inspiring, especially his commitment to uplifting Indian drivers and their dignity,” Gautam Adani posted on X.

“Excited for future collaborations with Dara and his team,” Gautam Adani added.

Replying to Gautam Adani, Khosrowshahi said the company is committed to scale up its operations in the country.

“An absolutely terrific conversation with @gautam_adani over a delicious breakfast about India’s phenomenal growth and rising entrepreneurship,” Khosrowshahi posted on X.

Uber came to India in 2013 and completed over 3 billion trips in the next 10 years. Today, Uber is available across 125 cities.

According to the company, it has helped “over 800,000 Indians earn a sustainable income by getting in the driver’s seat”.

The significant collaboration comes at a time when India is implementing the world’s largest renewable energy expansion programme, envisaging a five-fold increase in the overall renewable energy production capacity.

Prime Minister Narendra Modi has set a target to install 500 GW renewable energy capacity by 2030.

India is also uniquely poised to emerge as a prominent global leader in the production of green hydrogen, not just based on its abundant renewable energy resources and the benefits of one of the world’s lowest costs of regeneration, but also because of its R&D ecosystem and the framework designed for R&D in cross-cutting sectors of hydrogen production, transport, electrolyse manufacturing, support infrastructure, fuel cell EVs, storage and utilisation.

The government is also expanding and strengthening the EV ecosystem by supporting manufacturing and charging infrastructure. The focus on boosting EV charging stations will drive sales of both vehicles and charging infrastructure.

Additionally, government initiatives like the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme further incentivise EV adoption.

The clean energy industry hailed the government’s latest push towards ‘green growth’ with a new scheme of bio-manufacturing and bio-foundry, announced during the Interim Budget presented earlier this month, which will foster sustainable mobility.

The government said that such steps will provide environment-friendly alternatives, such as biodegradable polymers, bio-plastics, bio-pharmaceuticals and bio-agri inputs.

“This scheme will also help transform today’s consumptive manufacturing paradigm to the one based on regenerative principles,” said Union Finance Minister Nirmala Sitharaman.


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