Trending

Stories

Uber India to Expand Its Business Through Car Rentals and Shuttle Services

Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

WP Rocket - WordPress Caching Plugin

Must Read

After withdrawing from food delivery services, Uber is in talks with car rental services in India to offer self-driving car rentals and shuttle bus services in India.

Uber India is already in talks with mobility firms such as Drivezy, Zoomcar, Bounce, and Revy to kick-start their new initiative. The cab-hailing app will bring self-driving four-wheelers from these platforms to their Uber app for rentals.

Also Read

However, in 2017, Xchange Leasing, a subsidiary of Uber, had to be closed owing to high costs.

A person associated with Uber India, who wishes to remain anonymous revealed that Uber India plans to launch the full service sometime during this year in one or more cities. The person said, “The plan is to offer high-capacity vehicles that can seat anywhere between 12 and 25 commuters.”

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

Uber’s shuttle services launched in Cairo in December 2018 allows its users to book bus seats. However, this rental business will be the first-ever business venture of its kind taken up by Uber anywhere.

Uber’s shuttle service will take on existing players such as Amazon-backed Shuttl, which has raised over $70 million and operates in New Delhi, Chennai, Kolkata, Pune, and Hyderabad.

Uber India backed out of the food delivery business in January 2020 and sold it to Zomato for $350 million. The only two existing opponents in the food delivery business are Swiggy and Zomato, and both the companies are facing huge losses. Its US parent, Uber Technologies, is still recovering from a disappointing initial public offering in 2019.

Uber already has a two-wheeled electric scooter sharing platform with Yulu in Bengaluru. However, getting into two-wheeler renting business is also expensive in India, and the acquisition-led strategy decreases financial liability for Uber compared to investing directly in assets.

The ride-hailing market in India is expected to touch $43 billion with an estimated 4.2 million vehicles plying on the roads by 2025, estimates from market research firm Frost and Sullivan showed. Currently, there are around 2 million vehicles in the ride-hailing segment in India, and a large part of it is dominated by Uber and its rival Ola in India.

iThemes WordPress Hosting

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

Latest

Stories

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -
OpenAI Releases Tool To Detect AI-generated Text Tesla Records Double Net Profit in 2022 India to Produce Upcoming iPhones: Trade Minister Japanese Professor Developed A Power Semiconductor made of Diamond Google Releases New Product for India’s Merchants Indian EV Startup Unveil Two AutoBalancing Electric Scooters OPPO Find X6 Pro Images Render via Weibo Sony Develops New Tech to Reduce Noise of Image Sensors Tesla’s S & Y Models Earn Best-in-Class Cars of 2022 India Approved $320m to Promote Homegrown Payments Network
Twitter Roll Out TikTok-like ‘For You’ Timeline on iOS Nothing Phone Enters US with Beta Membership Program Finally! Apple’s VR Headset Coming this Spring Harvard Scientists Develop New Cell Therapy to Kill, and Prevent Brain Cancer HTC Vive XR Elite VR/AR Headset Now Selling for $1099 Realme 10 Launched in India with Helio G99 Gaming Chipset Twitter Data Breach Revealing User’s Private Information Instagram New Feature to Create Albums With Friend