Uber, Tata ink pact to create 20,000 micro entrepreneurs

MUMBAI: Uber Technologies Inc and the Tata Group on Thursday announced a partnership where the latter will provide a comprehensive vehicle and ownership solution to Uber’s drivers. Under the arrangement, Uber’s drivers can buy Indica and Indigo cars from Tata Motors at discounted rates, with loans offered by Tata Capital Financial Services and Tata Motors Finance at attractive terms, and affordable insurance provided by Tata AIG.

This is Tata Group’s second partnership with US headquartered ridesharing major. Last year Tata Opportunity Fund had picked up a stake in Uber.

“Drivers on Uber platform will receive discounts, specialized financing schemes and insurance on Tata cars,” said Madhu Kannan, member-group executive council, and group head-business development and public affairs.

The initiative has been launched in Hyderabad, which houses Uber’s largest office after the US, and will be subsequently rolled out in other cities where the California-based company runs its services. The partnership with Tata also ramps up Uber’s efforts in its fight against sector leader Ola in India, which is one of the fastest growing markets for Uber globally.

Eric Alexander, head – business, Uber Asia, said that the initiative will enable more than 20,000 drivers to start their own business through the Uber platform over the next one year.

“It’s clear from talking to drivers how much they value their flexibility and independence. It’s why we are excited to work with the Tatas to help make it easier and more affordable for drivers to get on the road, thereby promoting micro entrepreneurship in India,” Alexander explained.

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