on demand hailing

Analysts and investors wait to hear about Amazon’s expanded presence in Southeast Asia and on-demand services.

Uber has confirmed speculations of its acquisition of Middle East on-demand cab hailing company Careem, with the company now becoming a wholly owned subsidiary of Uber. The transaction is expected to be completed by Q1 2020.

Uber is in talks with Middle Eastern on-demand cab hailing rival Careem for an acquisition deal that is expected to be made public this week.

Hyundai, Kia and Ola will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market, they said in a joint statement. This is Hyundai’s and Kia’s biggest combined investment, and also is Hyundai’s first venture into fleet vehicles.

Ride hailing companies are expanding services across various verticals like electric vehicles and autonomous driving cars, as growth of regular users in the cab hailing market seems to stagnate.