The new chief executive of Uber Technologies will meet the head of Transport for London next week to try to retain the licence for its ride hailing service in the British capital. Fred Katayama reports.
Uber's chief executive Dara Khosrowshahi is meeting with the head of London's transport system on Tuesday. He will try to extend Uber's licence. Last week, the agency said it would not renew it after the end of September. It said Uber was unfit to operate in London because of the company's background checks on drivers and its approach to reporting crimes. Manhattan Venture Partners' Santosh Rao: (SOUNDBITE) SANTOSH RAO, HEAD OF RESEARCH, MANHATTAN VENTURE PARTNERS (ENGLISH) SAYING: "With 40,000 drivers and about 3.5 million or 4 million users, I think, it's not gonna be easy to just stop Uber from doing what they're doing. They need to tweak it a little bit, Uber does. They need to improve their system of checking and satisfying the authorities. But they have to be careful, because, at one point, Uber is cheaper than taking a regular cab, because their overhead costs are lower, but if they keep on layering on costs on top on other costs, at one point the cost differential is not going to be that much." Uber has until October 13th to appeal the decision. The company was already forced to quit several countries, including Denmark and Hungary. It faced opposition from traditional taxi services and local regulators.