Uber to invest $260 million to help London drivers go electric

Uber plans to invest $260 million (£200 million) in order to help transition all of its London drivers to electric vehicles by 2025, CNBC reports.

The big picture: The initiative will involve a 15 pence per mile "clean air fee" on all Uber rides booked in London, along with cash incentives to drivers to encourage them to move to electric vehicles. By the end of 2021, the company expects 20,000 drivers in London to switch to electric vehicles.