Uber CEO: We Are Studying Partnerships in Air Transport, Self-Driving Vehicles Sectors

Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
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Uber CEO: We Are Studying Partnerships in Air Transport, Self-Driving Vehicles Sectors

Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)
Uber CEO Dara Khosrowshahi. (Abdulaziz Al-Noman)

The Uber ride sharing company revealed that it was studying striking partnerships in advanced air transport, including electric vertical takeoff and landing (eVTOL) vehicles, while also nearing introducing self-driving vehicles in service soon.

Uber CEO Dara Khosrowshahi told Asharq Al-Awsat it was important to provide land and air transport solutions to benefit from this advanced technology, especially in trips that stretch over 100 miles.

Khosrowshahi was in Riyadh where he took part in meetings with government entities to disucss boosting Uber’s partnership with Saudi Arabia.

On self-driving vehicles, he said adding them to the company will not take place overnight, but he expected that they will play an important role in the transport system and Uber’s future operations.

Uber is working with several trusted partners to strike innovative strategic partnerships across the United States, he went on to say. This includes cooperating with Waymo, an American autonomous driving technology company that is a subsidiary of Alphabet, the parent company of Google.

In Saudi Arabia, Khosrowshahi said Uber was seeking to work with relevant parties in the Kingdom to allow more drivers to transition to using electric vehicles.

Here, one must address two main challenges: the cost of these vehicles and charging options, he explained.

Uber is contributing in achieving urban transport goals in Saudi Arabia by supporting public transport and boosting access to them, he added.

Uber is part of the diverse transportation ecosystem of which public transport is a backbone, he stated.

In the United Kingdom, for example, over 40 percent of Uber trips are launched from or arrive to public transport stations.

The company has also provided the option to make reservations on trains and buses through Uber, helping in increasing the use of public transport and granting users a smooth and comfortable journey, said Khosrowshahi.

Saudi Arabia is a very important market for Uber. The company launched its operations in the Kingdom in 2014, making it one of Uber’s largest markets, he revealed.

It provides services to over 800,000 passengers in 17 cities. Uber also launched a service unique to the Kingdom, Uber Reserve, that allows travelers to book their trips to and from train stations, he added.

The service was launched in cooperation with the Saudi Arabia Railways (SAR) and will help in reducing reliance on privately owned cars, he said.

The company also launched Uber X Share that encourages carpooling and bolstering sustainable transportation, all with the aim of contributing to achieving the goals of Saudi Vision 2030, he added.

Such a service will help in achieving an emissions free future in Saudi Arabia by 2060, Khosrowshahi stressed.



Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.