>> Uber is set to make London its first all-electric city. The ride aiding app aiming to make the switch by 2025. It will be the first place where Uber has completely ditched regular cars. Some of the city's iconic black cabs already going electric. Here's one. London also has plans to raise charges for polluting vehicles.
Uber's announcement made at a media briefing in the city on Tuesday by chief executive, Dara Khosrowshahi. Reuters correspondent, Costas Pitas was there.>> Transport for London, the mayor of London, Sadiq Khan, are very keen to get Fewer vehicles on the street. And the vehicles that are there to be lower emissions.
So it's partly because they need to meet future rules. Obviously Uber would say that it's also a part of it's mission to essentially get us out of our cars. And only using vehicles just for those journeys that we need to make.>> Some big obstacles for Uber and its drivers to overcome.
For one thing electric cars are still a lot more expensive than the usual sort. Uber says a clean air fee added to all London fares for next year will help tackle that. It will raise about $260 million to subsidize new cars for its drivers. Infrastructure a problem too.
London needs more electric car charging points. But Uber can probably find some money to throw at such problems. With an expected IPO next year, recent estimates value the company at about $120 billion.