This is a developing story.
The already controversial ride sharing company is the subject of an investigation following the news that it knew it was dealing with faulty vehicles.
UBER knowingly rented defective cars in Singapore, which were at risk of catching fire, and the ride-hailing firm only moved to fix the electrical problem when a driver was in a vehicle that went up in smoke. Thats right. It only moved to fix the problem it knew about when someones’ life was at stake.
According to the Wall Street Journal, Uber’s fleet of 1,000 Vezel SUVs were purchased from cheaper “gray market” importers, rather than authorized Honda (NYSE:HMC) dealers that tend to honor repair contracts.
It is unclear whether these practices have occurred in other emerging markets.