Uber Launches Peer-to-Peer Car Sharing in North America Marking Sustainability Efforts

Uber Technologies, Inc UBER disclosed plans to bring peer-to-peer car sharing to North America, starting with Toronto and Boston, at its Go-Get product event in London Thursday. 

It marks the company's sustainability move and part of its effort to curb emissions— goals it repeatedly mentioned during the event.

Customers in Uber Carshare cities can use the app to browse and reserve vehicles, which will be available for rent by the hour or the day, TechCrunch reports. The ride-hailing and delivery app company rebranded the service as Uber Carshare.

Customers must drop the rented car off at the pick-up spot. Uber proposes to suggest pricing with the cost, including fuel. However, owners will have the power to set the final price and availability.

After acquiring local startup Car Next Door, Uber launched a carsharing service in Australia in 2022. 

Uber prioritized high-density cities with several surrounding areas that can require a car for travel for its next launch.

Price Action: UBER shares traded higher by 0.49% at $39.18 premarket on the last check Thursday.