Pranav Dixit, writing for BuzzFeed News: Dara Khosrowshahi, Uber's CEO of six months, said on Thursday that the ride-hailing service would continue to invest aggressively in both Southeast Asia and India, where the company is losing money and faces strong competition from local players like Grab and Ola. Uber has been slow to expand its presence in India and Southeast Asia, allowing competitors to quickly gain ground. Singapore's Grab, for instance, claimed to have 95% of the country's ride-hailing market share last year. And Ola, Uber's Indian rival, currently operates in 110 cities against Uber's 29 cities. Ola does 1 billion rides annually, compared to Uber, which announced in mid-2017 that it completed 500 million total rides in the country in its first four years of operations. "We expect to lose money in Southeast Asia and expect to invest aggressively in terms of marketing, subsidies, etc.," Khosrowshahi told reporters in India, which is Uber's fastest-growing market outside the United States, and where he is currently on his first official tour. While Uber's India operation is not yet profitable, it does account for 10% of Uber's rides globally.