New Delhi, Aug 25
Uber CEO Dara Khosrowshahi has said that India is the company's third-largest mobility market with over 1.4 million drivers and is a "must-win" for the company.
In a podcast with the co-founder of Zerodha, Nikhil Kamath, the Uber CEO said that the growth in the Indian market is 'spectacular', adding, "India is an absolute must-win for Uber, not just tomorrow, but 10 years from now.”
Khosrowshahi said that Ola used to be Uber's main competition, but Rapido is currently the more formidable rival in India.
“The real test of the business isn’t how fast you can grow if you’re spending. It’s actually how fast you can grow while you’re profitable. And I think Rapido is a long way away from that. But they’ve been innovative,” he added.
He stressed electrification’s importance for India’s mobility future, adding that “If we’re going to lead here long-term, EVs have to be central. Autonomous and electric vehicles will transform mobility, but the innovation curve takes time.”