US EUROPE AFRICA ASIA 中文
    Business / Technology

    Uber eyes smaller cities, investment to take on rival: CEO

    (Xinhua) Updated: 2016-06-29 11:16

    Uber eyes smaller cities, investment to take on rival: CEO

    Travis Kalanick, CEO of Uber, speaks at the Annual Meeting of the New Champions 2016 during the World Economic Forum 2016 Summer Davos in Tianjin, June 26, 2016.[Photo/IC]

    TIANJIN - Ride-hailing firm Uber is looking to expand further into China's lower-tier cities, where business has been growing faster than in top-tier cities, CEO Travis Kalanick has said.

    "We are seeing second- and third-tier cities grow far faster than the first-tier cities, so we are really excited about expanding there," said Kalanick in an exclusive interview with Xinhua during a meeting of the World Economic Forum, which is being held through Thursday in the northern Chinese city of Tianjin.

    Uber has announced plans to expand its ride-hailing service to 100 Chinese cities this year. It now operates in nearly 60 cities, including many lower-tier cities also targeted by domestic rival Didi.

    Uber has secured over $6 billion in its latest funding round. Liu Zhen, Uber China's head of strategy, said this month that most of the money raised will be used to fund Uber's operations in China.

    While the company has generated over $1 billion in profits from its top 30 cities, Kalanick said it has not yet made money in any Chinese cities where the company operates, even though it provides more trips in China than any other country.

    The strong demand for better transportation in lower-tier Chinese cities also gives Uber more breathing room than in bigger cities, where Didi dominates.

    "I lose half an hour of sleep every night because of competition for China," Kalanick said.

    A growing number of automakers are placing bets on ride-hailing firms. Toyota has invested in Uber, while Volkswagen has bought a stake in Gett in Europe and General Motors has backed Lyft in the United States.

    To keep up with rival Didi, Kalanick said it must continue investment in China.

    "We have to invest right now because we have a competitor that's also investing," he said.

    Earlier this month, Didi announced $4.5 billion in equity financing, including $1 billion from Apple.

    However, Kalanick would love to see the funding race end sooner.

    "We all have to be sustainable at some point, and I can't wait till that happens. But for the time being, we are going to keep investing."

    Hot Topics

    Editor's Picks
    ...
    无码内射中文字幕岛国片| 中中文字幕亚洲无线码| 日韩高清在线中文字带字幕| 无码av免费一区二区三区| (愛妃視頻)国产无码中文字幕| 精品无人区无码乱码毛片国产| 亚洲自偷自偷偷色无码中文 | 午夜不卡久久精品无码免费| 欧美中文字幕一区二区三区| 日韩AV无码不卡网站| 少妇无码一区二区三区免费| 日日日日做夜夜夜夜无码| 最近中文字幕高清字幕在线视频| 日韩成人无码中文字幕 | 精品一区二区三区无码免费视频| 无码乱肉视频免费大全合集| 精品久久久久久无码中文字幕 | 少妇人妻88久久中文字幕| 免费无码午夜福利片69| 97无码免费人妻超| av无码一区二区三区| 国产拍拍拍无码视频免费| 人妻无码一区二区不卡无码av| 亚洲VA中文字幕无码一二三区| 熟妇人妻中文av无码| 久久久久亚洲AV无码观看| 日韩精品无码人妻一区二区三区 | 人妻少妇无码精品视频区| 亚洲天堂中文字幕在线| 少妇无码太爽了在线播放| 无码福利一区二区三区| 免费无码又爽又刺激网站直播| 日日日日做夜夜夜夜无码| 中文字幕无码人妻AAA片| 一本加勒比HEZYO无码资源网| 亚洲av无码一区二区三区在线播放| 亚洲精品无码久久久久| 日韩精品无码AV成人观看| 国产成人A人亚洲精品无码| 久久中文精品无码中文字幕| 亚洲AV无码之日韩精品|