Cab-hailing app Uber has signed a memorandum of understanding (MoU) with the Haryana government wherein it will invest $17.7 Mn (INR 120 Cr) in technology-based ride-sharing services.
Gagan Bhatia, General Manager, North India, Uber said, “We are excited to partner with the Govt of Haryana and invest in ridesharing technology to promote efficient, eco-friendly and smart transportation in the state and the NCR region.”
The pact was signed at the Happening Haryana Global Investors Summit 2016. Under the agreement, Uber said that it will invest in technology-based ride-sharing services that will include peer-to-peer transportation, using private vehicles, giving an alternative to car ownership. The drivers will be compensated for expenses, tolls and other related costs in the state.
Uber also has plans to collaborate with the government in order to create smarter cities in Haryana.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.