Ride-hailing giants Uber are set to increase fares by 5% in London and also across the UK in a bid to attract more drivers to its platform.
The hike in price aims to attract 8,000 more drivers in London in order to meet the growing demand in the capital.
Uber say the introduction of protections such as holiday pay and access to a pension plan has already led to more than 10,000 new drivers signing up with Uber in recent months, but Uber is taking steps to further grow its driver base in London and across the UK in order to meet the growing demand and boost service levels.
The per mile rate and minimum fare for drivers, which, for example will on average lead to a 5% increase in fares in London. Price changes will vary city by city and Uber is also making changes to peak hours and minimum fares to help boost driver earning opportunities, while keeping prices competitive and reliable for riders.
Andrew Brem, General Manager for the UK and Ireland, Uber, said: “London has come back to life with a bang following the pandemic and in order to meet the growing demand for Uber rides, we are looking to sign up 8,000 new drivers in the capital. Minimum base rates will increase across the UK in order to attract these new drivers, which will be in addition to the 10,000 that have joined Uber across the UK following the move to provide holiday pay and a pension. This is aimed at helping to boost driver earnings and help to keep London moving with a reliable Uber service.”