HYDERABAD: San Francisco-based taxi aggregator Uber will invest $50 million over the next five years to set up a state-of-the-art facility in Hyderabad. The proposed unit, its biggest in India, will have over 500 employees.
This is part of the $1 billion investment pipeline Uber had announced early this year in both India and China. Uber and the Telangana Government signed an MoU here Monday. In fact, as part of the Swachh Digital Telangana programme, the State government signed a slew of agreements with other companies like Samsung and CR Rao Institute. “Uber’s investment is a testimony to the potential the city offers. We are also partnering with several other companies including Samsung to develop a talent pool to meet industry needs,” said K T Rama Rao, IT Minister.
Uber said it will work closely with the Telangana government to develop a new regulatory framework to be passed in the next four weeks for on-demand transportation technology aggregator services that are bringing unprecedented benefits to urban transportation and the lives of thousands of drivers.