New Delhi : Uber has slashed fares for its UberGo rides in Delhi-NCR to compete with Ola’s Micro, the cheapest ride option offered on Ola cabs. The war amongst app-based taxi aggregators has been a long one and shows no signs of fading out. According to a statement on Uber's website, it cut the price of UberGo to 6 per km from 8 per km.
This is on par with the rate that Ola charges for its 'Micro' taxi services.The cut in price may trigger off a price war, with the two largest players in the Indian market looking to grab a larger chunk of the pie. Media reports say that Ola is in line to raise nearly $1 billion to take on Uber, now the world's most valued start-up at $68 billion. Only recently, Uber raised $3.5 billion from Saudi Arabia's Public Investment Fund. According to the reports, Softbank and Didi Kuaidi that already own a chunk in the Indian taxi aggregator, will also participant in the new funding round.