HYDERABAD: Exhibiting “uber” confidence in Brand Hyderabad, US-based mostly cab aggregator agency Uber – which drove into the town in January 2014 – has now determined to park its largest worldwide facility outside U.S. right here at an funding of over $ 50 million within the subsequent 5 years. The company announced a Dollars 50 million investment in Hyderabad over a period of five years.
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An MoU to this effect was signed between department of IT and Uber here on Monday, even as the company does not possess authorisation from the Road Transport Authority (RTA) to ply in the city.
Early in July, the company began operations in Bhubaneswar, Coimbatore, Indore, Mysore, Nagpur, Surat and Visakhapatnam, taking its total presence in the country to 18 cities. Its India customer support team already operates out of Hyderabad. “The government of India had sent an advisory to all State governments, asking each to enter into an agreement on standards which the vehicle aggregators are expected to follow”.
The investment will be into Uber’s core business a new green field project which we are going to set up here. “The style of life, the progressive government and deep talent pool were the key factors that influenced the decision”, Sidharth said.
The investment in the capital of India’s newest state Telangana will create “thousands of jobs and entrepreneurship opportunities”, Uber said in a statement Monday. Uber had recently chosen Hyderabad over 320 other cities as the location for its global-first cash payment experiment.
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By 2016, Uber plans to train more than 2,000 drivers to use its technology and work on its network locally, in collaboration with the Telangana Academy for Skills and Knowledge, a local organization, the company said in the release. The MoU with Telangana is aimed at creating thousands of jobs and entrepreneurship opportunities, fostering technical innovation and research into smart city initiatives. T-Hub is India’s largest incubator for startups, a Telengana government initiative.
