Cabify car in Mexico City. Cabify car in Mexico City.

Cabify plans to invest 1bn pesos this year

The Spanish transportation firm expects to add service in another 10 cities

The Spanish transportation company Cabify announced yesterday it will invest 1 billion pesos (US $48 million) in Mexico this year.

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The firm said in a statement it would “consolidate operations” in the 10 cities where it currently operates and add another 10 by next year. Among those could be Mexicali, Chihuahua, Ciudad Juárez, Torreón and Saltillo, said the company’s general manager for Latin America, Ricardo Weber.

He said Cabify is currently growing at more than 10% per month.

The company offers an on-demand and by-reservation ride service using a mobile application and competes in Mexico with Uber.

It anticipates that this year’s expansion will generate more than 200,000 new self-employment opportunities for drivers.

That expansion is coming in spite of what the company sees as “a period of uncertainty and economic instability.” But it said that it was “precisely at times of crisis that Mexican businesspeople and entrepreneurs should offer citizens new and innovative development opportunities . . . .”

Cabify also said it was working on special programs to give opportunities to migrants and refugees to become associates.

The company used it announcement to make a reference to the controversial border wall of U.S. President Donald Trump.

“We created Cabify to improve our cities: improved mobility has an influence on the quality of life and harmony among citizens. We look for better connections, building bridges between us instead of walls.”

Cabify operates in 33 cities in 10 countries in Latin America and Europe.

Source: Hoy Los Angeles (sp), El Financiero (sp)

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