Trusted Reviews is supported by its audience. If you purchase through links on our site, we may earn a commission. Learn more.

Uber to invest $1 billion in Chinese market push

Uber is set to invest over £700 million in a bid to expand in China, it has emerged.

Citing a recent email sent by Uber CEO Travis Kalanick to investors, the Financial Times says that it will pump CNY 7 billion (£728 million) into the Chinese branch of its business this year.

“Given our recent success in the region and substantial market share gains, we are planning to invest over 7 billion RMB (over 1 billion USD) in China in 2015 alone,” reads the email.

According to Kalanick’s message, the company’s Chinese operations have doubled in the last month, and Uber drivers are claimed to be making close to a million daily trips in the country.

It also provides details of Uber’s expansion plans. The firm wants to enter 50 Chinese cities over the coming year, all of which have populations exceeding five million people.

Currently, Uber caters to just 11 cities in the country, though it only launched in China in February 2014.

The company has been dogged by controversy for more than a year, with traditional taxi firms adamant that it should be regulated in the same way as normal cabs.

We’ve seen a number of anti-Uber protests on the streets of London, with cabbies blocking roads to bring attention to their campaign.

SEE ALSO: Why has Uber caused black cab protests?

It appears that its troubles may have followed it eastwards, with Chinese police visiting two of Uber’s offices over recent times, in order to “get some information.”

Why trust our journalism?

Founded in 2004, Trusted Reviews exists to give our readers thorough, unbiased and independent advice on what to buy.

Today, we have 9 million users a month around the world, and assess more than 1,000 products a year.

author icon

Editorial independence

Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.

author icon

Professional conduct

We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.