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Uber to increase London fares for $260 million fund for electric cars

Uber Technologies Inc. will raise travel costs in London by 15 pence (20 cents) per mile to create a 200 million pound ($ 260 million) fund to help drivers switch to all-electric vehicles. The announcement comes days before Uber goes to court in London to appeal a court ruling that his drivers should be entitled to benefits, including overtime and paid vacation. During a briefing with reporters in London on Tuesday, Uber chief executive Dara Khosrowshahi said the money would not bring anything back to Uber but would be placed in individual savings account for each driver.