<p>Tata group and tech-based car hiring company Uber on Thursday announced that they have joined hands to offer driver partners on the Uber platform a comprehensive vehicle purchase and ownership solution. <br /><br /></p>.<p>As per the agreement, owners and drivers will now be able to buy Tata cars such as Indica and Indigo, gain access to customised and flexible financing from Tata Capital Financial Services and Tata Motors Finance. They can also avail insurance from Tata AIG.<br /><br />Announcing the partnership, Eric Alexander, Head of Business, Uber Asia said, “Partnering locally with a company like Tata will help us develop entrepreneurship in India. Through this we want to give Uber drivers flexible loans in one stop shopping. This way we are trying to create a micro entrepreneurial ecosystem that allows the drivers to have flexible working hours.” <br /><br />He said that Uber with its presence in 27 cities in India wants to double the number by the end of the year.<br /><br />However, Alexander, answering a question on Uber’s controversial surge pricing, which causes fare rates to automatically increase, when the taxi demand is higher than drivers, said that Uber strictly adheres to local laws. <br /><br />“Surge is simply designed in a way to allow the consumer to hire a car when it is hard to find one. Uber is not in control to turn on or turn off surge. It is purely a market-based algorithm,” he explained. However, feigning ignorance of various state-level laws that might be regulating surge. “I work very close with the local government to work with the rules,” Eric said.<br /><br />“This is a pan-India initiative which was rolled out from here. Over the next year, this initiative will help over 20,000 drivers to start their own business on the Uber platform,” said Madhu Kannan, Member Group Executive Council and Group Head for Business Development and Public Affairs, Tata Sons. Tata will help Uber assist many more drivers who were hitherto rejected by the financial institutions to avail loan with less cumbersome application process.</p>
<p>Tata group and tech-based car hiring company Uber on Thursday announced that they have joined hands to offer driver partners on the Uber platform a comprehensive vehicle purchase and ownership solution. <br /><br /></p>.<p>As per the agreement, owners and drivers will now be able to buy Tata cars such as Indica and Indigo, gain access to customised and flexible financing from Tata Capital Financial Services and Tata Motors Finance. They can also avail insurance from Tata AIG.<br /><br />Announcing the partnership, Eric Alexander, Head of Business, Uber Asia said, “Partnering locally with a company like Tata will help us develop entrepreneurship in India. Through this we want to give Uber drivers flexible loans in one stop shopping. This way we are trying to create a micro entrepreneurial ecosystem that allows the drivers to have flexible working hours.” <br /><br />He said that Uber with its presence in 27 cities in India wants to double the number by the end of the year.<br /><br />However, Alexander, answering a question on Uber’s controversial surge pricing, which causes fare rates to automatically increase, when the taxi demand is higher than drivers, said that Uber strictly adheres to local laws. <br /><br />“Surge is simply designed in a way to allow the consumer to hire a car when it is hard to find one. Uber is not in control to turn on or turn off surge. It is purely a market-based algorithm,” he explained. However, feigning ignorance of various state-level laws that might be regulating surge. “I work very close with the local government to work with the rules,” Eric said.<br /><br />“This is a pan-India initiative which was rolled out from here. Over the next year, this initiative will help over 20,000 drivers to start their own business on the Uber platform,” said Madhu Kannan, Member Group Executive Council and Group Head for Business Development and Public Affairs, Tata Sons. Tata will help Uber assist many more drivers who were hitherto rejected by the financial institutions to avail loan with less cumbersome application process.</p>
