Stellantis, Uber Ramp Up Focus On France's EV Market

Carmaker Stellantis N.V. (NYSE:STLA) and Uber Technologies, Inc (NYSE:UBER) collaborated with Free2Move to focus on the French electric vehicles market.
Free2Move would help with Uber's plans to convert 50% of its fleet of vehicles in France over to electric models, Reuters reports.
The production and sale of more electric and hybrid vehicles is also a crucial part of Stellantis chief Carlos Tavares' plan to double Stellantis' overall revenues to 300 billion euros ($288.8 billion) a year by 2030. He saw his company catching up with EV pioneer Tesla Inc (NASDAQ:TSLA) in the coming years.
In August, Uber reported positive quarterly cash flow for the first time.
Uber is committing to becoming a zero-emission platform in U.S. and Canadian cities and major urban centers worldwide by phasing out all gas-powered vehicles by 2030.
Uber had collaborated with financial technology startup Moove to boost the number of EVs in London.
Price Action: STLA shares traded higher by 2.37% at $12.53 in the premarket on the last check Tuesday.
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