Uber Will Let You Rent Out Your Car in Sustainability Push

Jackie Davalos, Bloomberg News

Uber signage on a vehicle in San Francisco, California, US, on Thursday, April 27, 2023. Uber Technologies Inc. is expected to release earnings figures on May 2. , Bloomberg

(Bloomberg) -- Uber Technologies Inc. will make it possible to rent out your car on its app, with a peer-to-peer car-sharing service aimed at making its ride-hailing business more sustainable.

Through Uber Carshare, people will have the option to list their vehicle and make money when others rent it via the Uber app. The service launches in Boston and Toronto in the coming months, expanding on Uber’s first foray into car-sharing that began with the acquisition of Car Next Door in Australia last year.

Uber Carshare is one of a slate of new features the company unveiled on Thursday at its Go-Get Zero sustainability event in London. Car-sharing is part of Uber’s plan to become a zero-emissions platform by 2040. “By turning any car into a shared car, you’re increasing efficiency and contributing to more livable neighborhoods,” Chief Executive Officer Dara Khosrowshahi wrote in a blog post.

Uber’s service will compete with companies like Turo and GetAround, which operate car-sharing marketplaces in the US.