Uber to shut down vehicle-leasing business after losses
Cab-hailing startup Uber has said it will shut down its vehicle-leasing business Xchange Leasing, which was launched two years ago. An Uber spokesperson said, the startup has decided to move towards a less capital-intensive approach. Reportedly, Uber met with $9,000 (around â¹5.9 lakh) loss per vehicle, 18 times more than the startup estimated.