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

MarketsAssociated 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.

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.

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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 The ban was revoked this month.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.