
Uber eyes a bigger slice of EV space
Uber India plans to have 3,000 electric vehicles (EV) in its fleet by the end of 2021, a top executive at the ride hailing company said, in line with the trend in the mobility sector which is taking rapid strides in green technologies.
Uber plans to continue to partner with original equipment manufacturers (OEMs), EV infrastructure firms for charging and battery swapping, and fleets and financiers to make green-powered automobiles both ‘accessible and affordable’.
“As of now, we plan to have approximately 3,000 EVs and e-rickshaws (across two, three and four-wheelers) on our platform by the end of 2021,” Prabhjeet Singh, president, mobility, Uber India and South Asia, said in an interview.
Mobility service providers were among the worst hit as demand has been muted since the Covid-19 outbreak.
However, the companies are aiming to accelerate some of their larger plans to take the green route as they expect strong recovery in these segments once the restrictions are lifted.
“In Mumbai, for example, gross bookings for auto have bounced back to over 150% of pre-covid levels. In Chandigarh, it’s at 100%, in Hyderabad at 85%,” Singh said.
Uber said its plan to reach 200 cities by end of 2020 was affected by the pandemic, but it remains on course to achieving the milestone.

Adani Ports to raise $500mn through bonds
- The proceeds of the bond sale would be used to finance early redemption of dollar bonds of a similar amount maturing next year.

IT companies eye large deals to boost revenue
- HCL Technologies Ltd said it signed 13 new ‘transformational’ deals in the December quarter, aided by momentum in its digital, cloud, and products and platform segments.

Q3 earnings trends indicate robust recovery for India Inc
- Net sales of 166 BSE-listed cos grew 10.47% from a year ago during Q3.

India’s economy to shrink by 8% in FY’21, says IMF
- India’s September quarter GDP estimate, at -7.5% after -23.9% in the June quarter, positively surprised analysts.

YouTube shorts eyes TikTok competition with 3.5 billion daily views in India
- The new format is seen as a way for Google to compete with Gen Z-favorite TikTok, which currently has 700 million users worldwide.

Govt may need to peg deficit at 7% of GDP
- The government on February 1, 2020 used the trigger mechanism of the FRBM Act to deviate from the fiscal deficit road map by 0.5% for 2019-20 and 2020-21 (3.8% and 3.5% respectively) in order to boost the economy.

First private space crew paying $55M each to fly to station on a SpaceX rocket
- The first crew will spend eight days at the space station, and will take one or two days to get there aboard a SpaceX Dragon capsule following liftoff from Cape Canaveral. Each of these first paying customers intends to perform science research in orbit.

HSBC 'aiding crackdown on democracy' in Hong Kong, British lawmakers say
- Founded in Hong Kong but headquartered in Britain, HSBC has historically tried to remain politically neutral. Recently however it has shown support for Beijing, most notably last June when its top executive in Asia signed a petition backing China’s imposition of a national security law on Hong Kong.

Covid-19: IMF says pandemic hit global economy projected to grow at 5.5% in 2021

IMF projects 11.5% growth rate for India in 2021

Twitter acquires newsletter startup Revue to expand business

Johnson & Johnson promises 2021 profit jump, vaccine data 'soon'

Angela Merkel's ally Floats tweak to debt limits to fund pandemic fight

Enhanced trade partnership first step towards UK-India FTA, says UK minister
