What’s new: Shared car services specialist Uber Technologies Inc. has announced it will move its Asia Pacific headquarters from Singapore to Hong Kong.
As part of the move, Uber will set up a research and engineering center in the semi-autonomous Chinese city to serve the entire region.
What’s the background: Uber has had a bumpy road in Asia, similar to its experience in much of the world, and now serves nine regional markets: Hong Kong, Taiwan, India, Bangladesh, Sri Lanka, Japan, South Korea, Australia and New Zealand.
The company previously offered service in the Southeast Asia region where Singapore is located, but later sold that business to local rival Grab in 2018.
Uber also fought a hotly contested battle on the Chinese mainland, but ultimately merged its business there with that of local rival Didi Chuxing in 2016 in exchange for a stake in the Chinese company.
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Contact reporter Yang Ge (geyang@caixin.com); Edited by Joshua Dummer (joshuadummer@caixin.com)
