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About 'to focus on bikes over cars'



 Lime scooters

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AFP

Image caption

About Lime, whose scooters are available in a number of cities including Paris
                

Iber says it plans to focus more on its scooter and bike business, and less on cars, despite the fact it could hurt profits.

Boss Dara Khosrowshahi said that individual modes of transport were better suited to inner city travel.

"During rush hour, it is very inefficient for a one-ton hulk of metal to take one person 1

0 blocks," he told the Financial Times.

"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."

  • Uber move into sidelines deepens loss
  • About invests in Lime scooter hire company

The ride-sharing firm has invested in a number of bike firms in the last year.

Its Jump electric bikes are now available in eight US cities, including New York and Washington, and are soon launching in Berlin.

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Jump Bikes

Mr Khosrowshahi admitted that Uber makes less money from

"We are willing to trade off short-term per-unit economics for long-term higher engagement, "he told the FT.

So, the Uber drivers acknowledged that they were loose out of the plan, but said they would benefit from more lucrative longer journeys.

Under pressure

Uber, which lost $ 4.5bn (£ 3.5bn)

Revenue from its taxi business is rising but the cost of expanding into new areas has also increased. 19659007] Regulatory pressure is therefore threatening growth in some markets.

This month New York has been issued with a license for a temporary license for ride-hailing vehicles to tackle congestion, while the mayor of London has said he wants similar restrictions.


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