Uber in one billion dollar Indian expansion
Ride-hailing service Uber is going all-out for dominance in India, and will fund its expansion in the country to the tune of $1 billion over the next nine months.
Uber India president Amit Jain said India is the biggest market outside the US and has been growing 40% month-on-month.
"We are extremely bullish on the Indian market and see tremendous potential here. This is why Uber is committing an additional $1 billion to India in the next nine months," he said.
"With this investment and the strong rate of growth we are seeing, we expect to hit over one million trips per day in the next six to nine months."
Jain said India is a ‘global priority’ as currently it only operates in 18 cities.
Uber’s main rival is Ola Cabs which has a presence in 100 Indian cities with about 150,000 vehicles.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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