Tata companies and Uber announce new partnership

Tata companies and Uber announce new partnership to make it easier for drivers to become micro-entrepreneurs

Tata companies and Uber Technologies Inc. today announced a new partnership to offer driver partners on the Uber platform a comprehensive vehicle purchase and ownership solution.

Owners and drivers on the Uber platform will now be able to:

?      Buy fuel efficient cars like the Indica and Indigo from Tata Motors

?      Gain access to flexible and customised financing solutions from Tata Capital Financial Services and Tata Motors Finance; and

?      Get affordable insurance from Tata AIG

In addition, Tata Business Support Services will provide operational support for drivers wanting to use this new vehicle solutions program.

This is a pan-India initiative, which has been rolled out first in Hyderabad. Over the next one year, the initiative endeavours to fuel micro-entrepreneurship across India by enabling over 20,000 drivers to start their own business on the Uber platform.

The announcement of this partnership succeeds the Tata Opportunity Fund's investment in Uber last year. This partnership reflects how Uber can better support drivers in India, and how Tata companies can collaborate to deliver seamless solutions to Tata group business partners.

Mr. Madhu Kannan, Member-Group Executive Council, and Group Head for business development and public affairs, Tata Sons, said, “A unique strength of the Tata group is that it can provide convergent solutions, meeting multiple requirements of its customers, and this partnership is a distinctive example of this strength. We are delighted to take our relationship with Uber forward, leveraging its technology expertise and Tata companies’ capabilities and reach.”

Mr. Eric Alexander, Head of Business, Uber Asia, said, “Uber has made it possible for millions of people in India to get a ride and work at the push of a button. It’s clear from talking to drivers how much they value their flexibility and independence. It’s why we are excited to work with Tata to help make it easier and more affordable for drivers to get on the road--increasing micro entrepreneurship in India.

About Uber:

Uber is a technology platform that is evolving the way the world moves. By seamlessly connecting riders to drivers through our apps, we make cities more accessible, opening up more possibilities for riders and more business for drivers. From our founding in 2009 to our launches in over 400 cities today, Uber’s rapidly expanding global presence continues to bring people and their cities closer. Uber is present in over 27 cities across India. For more information, please go to www.uber.com

About the Tata group:

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in India, comprising over 100 independent operating companies. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'. Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six percent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture. In 2014-15, the revenue of Tata companies, taken together, was $108.78 billion. These companies collectively employ over 600,000 people. Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors and shareholders. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of about $116.41 billion (as on March 31, 2016). Tata companies with significant scale include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan, Tata Communications and Indian Hotels. For more information, please go to www.tata.com