Aug 04, 2016

    End of the road for Uber in Taiwan?


    TAIWAN'S Investment Commission said yesterday

    it is set to order Uber Technologies to exit the domestic market, saying the global ride-hailing giant misrepresented its business as an Internet-based information technology platform rather than a transport service.

    The commission's executive secretary, Emile Chang, said

    a final decision will be made by Aug 11.

    The commission oversees Taiwan's inbound and outbound foreign investments.

    Uber officials in Taiwan could not be immediately reached for comment.

    It could be another setback for the company after its China unit was recently acquired by Didi after spending a lot of money

    in a bid to entrench itself

    on the mainland.