Ride-hailing service Uber to invest $1 billion in India to expand operations, report says

Markets Associated Press

An Indian report says ride-hailing service Uber has announced a $1 billion investment for the Indian market for the next nine months as it hopes to expand services and products.

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In the report Friday from Press Trust of India, the head of Uber India, Amit Jain, says the investment will be used to improve operations and establish a better customer support network.

The company lost its license to operate in the Indian capital last year after one of its drivers was accused of raping a 26-year-old passenger. The ban was revoked this month.

Uber connects travelers with drivers through its smartphone app and is an alternative to traditional taxi services.