Uber invests $200 million in Freight unit

Uber Freight is to invest $200 million (£162.1 million) annually in its operations in Chicago.

It said it would be hiring ‘thousands of new team members’ and the downtown site would become its first engineering hub outside of its operations in San Francisco.

Lior Ron, head of Uber Freight, said: “Globally, freight is a 3.8 trillion dollar industry ripe for change, and Uber Freight is leading the way towards a more efficient and collaborative freight future.

“We’ve built cutting-edge technology for both sides of the freight marketplace, unlocking opportunity for shippers, carriers, and their drivers so that they can focus on improving their bottom lines, growing their businesses, and keeping their eyes on the road ahead. We’ve pushed the entire industry towards transparency with features like facility ratings and real-time pricing,” Ron said.

“And this year, we brought these same values and logistics solutions abroad, expanding operations into Europe.”

In March Uber Freight outlined plans to launch in Europe, establishing offices in Amsterdam, The Netherlands.