After confirming the closure of its auto-leasing business, Xchange Leasing, Uber is now reportedly selling it, according to The Wall Street Journal.
The buyer? Car ownership startup Fair.com.
SEE ALSO:Taxify launches in another country to challenge Uber's ride-sharing dominanceUber announced in September that it would be shutting down Xchange Leasing, its Delaware-based subsidiary which partners with auto dealerships to offer vehicle leases to U.S. Uber drivers.
The leasing business currently sports a net book value of $400 million made up of over 30,000 vehicles, according to WSJ, but has suffered heavy losses — Uber was reportedly losing $9,000 per car in August. Many of these cars owned by Xchange Leasing have been auctioned off over the last few months.
WSJreported on Tuesday that Fair.com had agreed to buy the business, according to "people familiar with the matter." Founded by former TrueCar CEO Scott Painter, and car industry veterans Georg Bauer (BMW, Mercedes-Benz, Tesla) and Fedor Artiles (Mercedes-Benz, Chrysler, Volkswagen, Tesla) the flexible car ownership platform lets you lease a vehicle for as long as you like. The cars will always be under six years old and 70,000 miles when you get them.
As of Oct. 2017, Fair.com had managed to score up to $1 billion in debt and equity funding from BMW’s iVentures, Penske Automotive Group, and Mercedes Benz, among other investors.
Uber and Fair.com are not commenting at this time.
TopicsUber
(责任编辑：焦點)
Nancy Pelosi warns colleagues after info hacked
'Captain Marvel' finds its directors. Yes, that's 'directors', plural
Campus vending machine does you a solid by selling condoms, pregnancy tests
The first 'Star Wars: The Last Jedi' poster will take your breath awayDressage horse dancing to 'Smooth' by Santana wins gold for chillest horseOlympics official on Rio's green diving pool: 'Chemistry is not an exact science'
The diving pool for the Summer Olympics mysteriously turned green this week in Rio de Janeiro, then
...[详细]Saturn has a tiny moon shaped like a dumpling, and I want to eat it right now
There are certain things that you learn in a newsroom when the space reporter is away on vacation. O
...[详细]Man's drunken attempt to do a backflip ends exactly as expected
This video is the absolute, literal definition of "don't try this at home."Jamie Cubis from Motherwe
...[详细]Hold onto your Expedit: Ikea restaurants are coming
If you've ever spent three hours in Ikea, chances are you weren't there just for the dirt-cheap furn
...[详细]Visualizing July's astounding global temperature records
July set a rare temperature record during a year that is featuring off the charts warmth. The month
...[详细]Instagram went out today, and the world continued to turn
UPDATE: April 24, 2017, 2:39 p.m. EDT Instagram reps have confirmed that the service outage has been
...[详细]Man's drunken attempt to do a backflip ends exactly as expected
This video is the absolute, literal definition of "don't try this at home."Jamie Cubis from Motherwe
...[详细]Gorillaz announce their first North American tour in 7 years
You don't need to keep pinching yourself anymore. Gorillaz really are back—and they're coming
...[详细]Plane makes emergency landing after engine rips apart during flight
A Southwest Airlines flight bound for Orlando, Florida, made an emergency landing Saturday morning d
...[详细]'League of Legends' breaks out a black hole for its latest game mode
League of Legendsteased a brand new game mode today and it centers around an amazing new addition to
...[详细]Chinese gymnastics team horrifies crowd with human jump rope
Guy loses weightlifting bet in an embarrassing way and his friends can't stop laughing
