Uber Rival Wheely Launches In Dubai, Targeting Wealthy Clientele With High-End Electric Cars
Portfolio Pulse from kaustubh@benzinga.com
Wheely, a luxury ride-hailing service, is launching in Dubai to target affluent clients with a fleet of electric cars, including BMW 5 Series and plans for the BMW i5 electric variant. This move challenges Uber's market presence through its owned company Careem. Wheely's focus on wealthy clients and sustainable transportation aligns with Dubai's push for clean energy vehicles.
February 07, 2024 | 9:19 am
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Uber faces new competition in Dubai from Wheely, a luxury ride-hailing service focusing on electric vehicles and affluent clients. This comes as Uber anticipates lower Q4 earnings and has faced fines for privacy violations.
Wheely's entry into the Dubai market directly challenges Uber's existing market share through Careem, especially among high-end clients. Given Uber's anticipated lower Q4 earnings and recent fines, Wheely's launch could further pressure Uber's performance in the region. The focus on electric vehicles also aligns with Dubai's clean energy initiatives, potentially giving Wheely a competitive edge.
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