1. Uber to set up largest international facility in Hyderabad, to invest $50 million in 5 years

Uber to set up largest international facility in Hyderabad, to invest $50 million in 5 years

Uber has signed MoU with Telangana government to create thousands of jobs and entrepreneurship opportunities, foster technical innovation and research into smart city initiatives.

By: | Hyderabad | Updated: July 7, 2015 10:39 AM
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Uber has signed a memorandum of understanding (MoU) with the Telangana government to create thousands of jobs and entrepreneurship opportunities, foster technical innovation and research into smart city initiatives. (AP)

Uber Technologies, an online taxi service provider, said it will set up its largest international facility in Hyderabad with an incremental investment of $50 million over the next five years. This is the largest investment that Uber has made so far after it entered India in August 2013.

Uber has signed a memorandum of understanding (MoU) with the Telangana government to create thousands of jobs and entrepreneurship opportunities, foster technical innovation and research into smart city initiatives.

According to Siddharth Shanker, Uber Hyderabad GM, the company has a long-term commitment to create thousands of jobs and entrepreneurship opportunities, bringing greater efficiency to automobile utilisation and safer transportation choices for people in Telangana.

Uber will collaborate with Telangana Academy for Skills and Knowledge (TASK) to identify and train 2,000 candidates by 2016 end who will then drive on the Uber platform.

Besides, Uber’s vehicle finance programme and technology platform will facilitate first-time vehicle ownership. Uber will work closely with the government to develop a new regulatory framework to be passed in the next four weeks for on-demand transportation technology aggregator services.

Uber will also engage with T-Hub and the government and explore synergies to foster the smart cities initiative and technological innovation in the city using big data analysis. In April, Hyderabad was chosen over 320-odd other cities as the location for Uber’s global-first cash payment experiment.

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