Uber enters the trailer leasing business

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Uber enters the trailer leasing business





Uber enters the trailer leasing business





(Reuters) - Uber Technologies Inc [UBER.UL] He said Wednesday that he is entering the trailer leasing business. 











FILE PHOTO: The Uber application is viewed on a mobile phone in London, Great Britain, September 14, 2018. REUTERS / Hannah McKay / File Photo





The business, called Powerloop, will be part of Uber Freight, which connects the truckers with the carriers, the company He said. 

Powerloop, which would rent trailers to carriers, is currently available in Texas, Uber said, adding that he hopes to expand the new business to other regions of the US. UU 

Powerloop's first customers include Brewer Anheuser-Busch. 

Uber, which has lost money, has been looking for new avenues of growth, including food delivery services, even as it struggles with intense competition in its main transportation business. 

In August, the company said it would create an independent business outside of its long-distance truck business, with plans to double its investment in the unit to boost growth. 

Uber, based in San Francisco, plans to go public next year and could be valued at $ 120 billion, according to a media report. 





Report of Akanksha Rana in Bengaluru; Edited by Maju Samuel





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