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Published on 04/11/2016
Published on 11/19/2015
Uber Investments in Brazil Are Contingent on New Regulation Terms, Says President
02/27/2018 - 11h53
FROM SÃO PAULO
In the last six months, drivers associated with Uber made 500 million trips: the equivalent of all trips the company carried out over the past three and a half years.
Similar apps also experienced a surge in popularity, leading Chinese company Didi Chuxing, the same company that sidelined Uber in China, to acquire Brazilian app 99 for over US$ 1 billion.
From now on, Uber investments in Brazil will be contingent on the regulations that Brazil's lower house of Congress puts forward for ridesharing apps, said Uber CEO Dara Khosrowshahi, 48.
The bill will be put to a vote on Tuesday (the 27th).
Last week, Uber decided to suspend its services in Marrocos, claiming that its activities had been jeopardized due to the lack of clarity surrounding the country's regulations.
Mr. Khosrowshahi said that the situation in Brazil is very different from Marrocos'. "It would be a tragic result that I am not anticipating, but these are things that are happening around the world".
Uber's projects in Brazil include the implementation of other transportation modalities, such as a bicycle system designed for cities like São Paulo, as well as "flying cars" capable of performing vertical takeoffs and landings.
Mr. Khosrowshahi expects the new technology to be available sometime between 5 to 10 years from now.
Translated by THOMAS MATHEWSON
|Drew Angerer - 7.jul.2016/AFP|
|Uber CEO Dara Khosrowshahi|