Uber is looking to acquire FreeNow, the ride-hailing joint venture of BMW and Daimler that operates in more than 100 European cities.
After a decade of disrupting urban mobility, Uber finally opens up for its initial public offering (IPO) at the NYSE on May 10.
Uber has confirmed speculations of its acquisition of Middle East on-demand cab hailing company Careem, with the company now becoming a wholly owned subsidiary of Uber. The transaction is expected to be completed by Q1 2020.
Uber is in talks with Middle Eastern on-demand cab hailing rival Careem for an acquisition deal that is expected to be made public this week.
Hyundai, Kia and Ola will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market, they said in a joint statement. This is Hyundai’s and Kia’s biggest combined investment, and also is Hyundai’s first venture into fleet vehicles.
Recently uncovered case files from the Waymo vs Otto trade secret theft case, reveal Uber’s optimism with self-driving cars in 2016, which included the company envision running 75,000 self-driving vehicles across 13 cities by 2022.
Uber announced its fourth quarter earnings yesterday, with the results showing its market dominance in the cab-hailing segment and its extensive investment across different niche verticals it has expanded into recently.
Ride hailing companies are expanding services across various verticals like electric vehicles and autonomous driving cars, as growth of regular users in the cab hailing market seems to stagnate.
Uber and Lyft saw a steady growth in revenue this quarter, as they continue to invest heavily in mobility sharing segments, with Uber forking out into food delivery and truck hauling segments as well.
