Uber has no plans to leave Southeast Asia but instead sees an aggressive investment period ahead, CEO Dara Khosrowshahi said on his Asia tour.
The Uber boss told the Reuters news agency that the plan for the region is to move forward and invest.
”"We expect to lose money in Southeast Asia and expect to invest aggressively in terms of marketing and more. From a competitive standpoint, we think we can improve," Dara Khosrowshahi said, according to Techcrunch.
His comments contrast with a CNBC report last week that suggested Uber was prepared to sell its Southeast Asian operations to ride-hailing giant Grab. Uber has fallen behind in regional competition not only against Grab but also Go-Jek.
Southeast Asia remains a very attractive market, especially for ride-hailing services. According to a Tencent-Google report, the region has quadrupled in size since 2015 and is expected to be worth $20.1 billion by 2025.
Source: finwire
