Uber to focus on e-bikes in bid to grow global business
Posted on in Business News , Cycles News
Uber CEO Dara Khosrowshahi has told the Financial Times that the ride-sharing app will be switching their focus from taxis to e-bikes in a bid to grow their global business.
Dara Khosrowshahi told the FT that while the move would cost Uber in the short term, in the long term it would be better for cities, users and the company.
He said: "During rush-hour, it is very inefficient for a one-ton hulk of metal to take one person 10 blocks."
Diversifying would allow Uber to grab more of a "$6tn (£4.7tn) mobility market", adding: "No one product is going to be serving that whole market."
Uber has added e-bikes to its app in some US cities and spent about another $200m to buy bike-sharing firm Jump earlier this year. It has also invested in the electric scooter firm Lime.
Khosrowshahi admits that bikes would bring in less revenue than cars, but he believed they would promote longer-term engagement from Uber users. Investors would need to be prepared for short-term losses to achieve long-term goals. "During rush hour, it is very inefficient for a one-tonne hulk of metal to take one person 10 blocks,"
"We're able to shape behaviour in a way that's a win for the user. It's a win for the city. Short term, financially, maybe it's not a win for us, but strategically long term we think that is exactly where we want to head."
