Adani Group To Invest In Passenger Vehicle Fleets, In Talks With Uber

Adani Group To Invest In Passenger Vehicles Fleets, In Talks With Uber

SUMMARY

The Indian conglomerate will operate fleets in the cities where its airports are functional

Currently, its airports are running in nine Indian cities

Uber and Adani Airport Holdings have recently tied up to offer many passenger-focussed initiatives

The Adani group is reportedly planning to invest in passenger vehicles fleets to list on ride-hailing apps such as Uber.

The Indian conglomerate will operate the fleets in the cities where its airports are functional, Economic Times reported. To solidify its plans, the company has been in conversation with Uber.

Adani Group is taking this move to build ancillary offerings that support the airport business growth, the report added citing a source.

Currently, Adani Group operates airports in nine Indian cities – Mumbai, Ahmedabad, Lucknow, Jaipur, Thiruvananthapuram, Guwahati and Mangalore.

The move comes at a time when ride-hailing apps such as Uber and Ola are facing a supply issue after the pandemic as the drivers are not returning in full numbers. Hence, it could come as a shot in the arm for those players, another source quoted saying in the report. Interestingly, airport rides are known as the most lucrative category in cab business.

Considerably, Uber and Adani Airports Holding Limited recently partnered to offer passengers a number of passenger-focused initiatives. As part of the partnership, there are designated Uber pickup zones with signs at India’s major airports such as Mumbai, Ahmedabad, Lucknow, Guwahati, and Jaipur. where travellers may book journeys.

“Air-travel fuels the aspirations of millions of inbound and outbound passengers, connecting them with an ecosystem conducive for their growth. Keeping convenience at the forefront of our service philosophy, we work closely with our partners to innovate and create integrated solutions that understand the hassles and stresses of planning an itinerary while traveling,” Jeet Adani, director, Adani Airport Holdings, said at the time of the announcement of the partnership.

This is not the first time for Adani Group to invest in a new age business. For instance, the group last year announced to invest in Flipkart-owned Cleartrip.

Further, earlier this year Adani Defence Systems and Technologies, a subsidiary of Adani Enterprises, had signed a definitive agreement to acquire 50% stake in drone startup General Aeronautics.