Uber to offer Tembici's bike-sharing service in Latin America

Uber Technologies Inc (UBER.N) on Wednesday announced a deal with Brazilian bike-sharing company Tembici to make electric and common bicycles available on its app in Latin America amid a push for greener initiatives.

Uber said in a statement the deal was aimed at making it easier for people to travel short distances on bicycles instead of cars, while also helping the firm in its goal of becoming a fully zero-emission platform by 2040.

Tembici and Itau-sponsored bikes will be available for rental on the Uber app initially in the northeastern Brazilian city of Recife, it said, but the initiative will be later expanded to Sao Paulo, Rio de Janeiro, Brasilia, Salvador, Porto Alegre and other Latin American cities where Tembici operates.

"This partnership underscores the important role that car-free options are increasingly playing in Uber's strategy to achieve zero carbon emissions," said Annie Duvnjak, Uber's global micromobility general manager.

Tembici, which in addition to Brazilian cities also operates in Santiago, Buenos Aires and Bogota, has raised money from International Finance Corp, Valor Capital Group, Redpoint eventures and Crescera Capital in recent years.

Earlier this year, the company also obtained a 160 million-real ($31.40 million) loan from Brazil's state development bank BNDES to expand the capacity of its plants in Manaus and Extrema. The company expects to end 2023 with 30,000 bicycles on Latin American streets, a third of them electric.

Uber said Tembici and Itau bike docking stations would "soon" appear in its app, but did not provide a specific date. It also did not disclose amounts involved in the deal.

($1 = 5.0961 reais)