At the World Economic Forum (WEF) 2024 in Davos, Uber CEO Dara Khosrowshahi underscored the strategic importance of India in the company’s shift towards electric vehicles (EVs). In an exclusive interview with CNBC-TV18’s Shereen Bhan, Khosrowshahi revealed that Uber is actively seeking local partners in India to facilitate the transition of its fleet to electric vehicles.

Emphasizing India’s significance, Khosrowshahi stated, “India is worth the investments we are making. It is huge for us and will become a larger portion of our business in the next five years.” Having completed a decade in India in August 2023, Uber now constitutes nearly 10% of the global trip volumes for the ride-hailing giant, growing at an impressive rate. Khosrowshahi highlighted the discerning nature of Indian customers, emphasizing that success in India translates to success anywhere.

Within India’s mobility sector, Khosrowshahi identified substantial potential in the two-wheelers and three-wheelers segments. Uber aims to collaborate with Indian companies focused on developing affordable electric vehicles for the mass market. Khosrowshahi emphasized Uber’s unique position as the only company offering both mobility and delivery services, foreseeing significant growth opportunities in building new businesses within these segments.

Looking ahead, Uber envisions having an all-EV fleet in the US, Europe, and Canada by 2030, extending this vision globally by 2040. Khosrowshahi also discussed innovative initiatives in India, including leveraging existing drivers for map labelling in artificial intelligence and the launch of Uber Shuttle, a bus service aimed at alleviating traffic congestion and environmental impact by promoting ride-sharing.

As Uber aligns its global strategy with India’s pivotal role in the EV transition, these developments signify a forward-looking approach that integrates local partnerships and addresses unique market dynamics.

By : Kruthiga V S

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