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.



Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
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Trump Taps Scott Bessent for Treasury

(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Scott Bessent, head of Key Square Group and former chief investment officer of Soros Fund Management, attends the second day of the annual Allen & Company Sun Valley Conference, July 12, 2017 in Sun Valley, Idaho.(Photo by Drew ANGERER / GETTY IMAGES NORTH AMERICA / AFP)

President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as US Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs.

"I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States," Trump said in a statement released on Truth Social. "Scott is widely respected as one of the world's foremost international investors and geopolitical and economic strategists."

Wall Street has been closely watching who Trump will pick, especially given his plans to remake global trade through tariffs and extend and potentially expand the raft of tax cuts enacted during his first term, Reuters reported
The choice came after days of deliberations by Trump as he sorted through a shifting list of candidates. Bessent spent day after day at Trump's Mar-a-Lago home in Florida providing economic advice, sources said, a proximity to the president-elect that may have helped him prevail.
Other names that had been floated included Apollo Global Management Chief Executive Marc Rowan and former Federal Reserve Governor Kevin Warsh. Investor John Paulson had also been a leading candidate, but dropped out, while Wall Street veteran Howard Lutnick, another contender, was appointed as head of the Commerce Department.
Bessent, who did not immediately respond to a request for comment, has advocated for tax reform and deregulation, particularly to spur more bank lending and energy production, as noted in a recent opinion piece he wrote for The Wall Street Journal.
The market's surge after Trump's election victory, he wrote, signaled investor expectations of "higher growth, lower volatility and inflation, and a revitalized economy for all Americans."
"Bessent has been on the side of less aggressive tariffs," said Oxford Economics' Ryan Sweet, adding that picking him makes the steep tariffs Trump proposed on the campaign trail less likely.
Bessent follows other financial luminaries who have taken the job, including former Goldman Sachs executives Robert Rubin, Hank Paulson and Steven Mnuchin, Trump's first Treasury chief. Janet Yellen, the current secretary and first woman in the job, previously chaired the Federal Reserve and White House Council of Economic Advisers.
Republican US Senator Lindsey Graham from South Carolina, Bessent's home state, said in a statement: "President Trump's economic agenda is in good hands with Scott Bessent. I look forward to working closely with Scott and President Trump to lower inflation and create the golden age of prosperity for the American people."