French taxi drivers protest Uber
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- Created: Wednesday, 03 February 2016 18:02
French taxi drivers were part of a larger national strike in late January and ride-hail giant Uber was a target.
French taxi drivers were part of a larger national strike in late January and ride-hail giant Uber was a target.
Facing the winter doldrums, Uber recently announced price cuts in 100 U.S. and Canadian cities.
San Francisco’s Yellow Cab Co-Op, which has about 530 medallion holders, has told shareholders it plans to file for bankruptcy.
Nissan’s NV200 taxi, dubbed the Taxi of Tomorrow, is the only approved non-hybrid taxi for New York City but a competitor has emerged.
General Motors (GM) last week invested $500 million in Lyft, the ride-hail company, announcing a strategic alliance to create an integrated network of on-demand autonomous vehicles in the U.S.
In five years, ride-hail phenomenon Uber has raced ahead of the pack, expanding to hundreds of cities in 68 countries and drawing billions in investor dollars.
In response to Uber’s dominance in the ride-hail industry, competitors San Francisco-based Lyft and China’s Didi Kuaidi have formed an international alliance to battle the industry leader.
Ride-hail newcomer and industry leader Uber is now valued at more than $64 billion and has changed the personal transportation landscape.
Those gains, however, have come largely at the expense of a taxicab and limousine industry that is reeling.
On December 30, Uber announced it had booked its one billionth trip, a Christmas Eve ride in London.
The landmark trip came five years after the company launched its first ride in San Francisco in 2010.
Tech companies often move in the fast lane. Uber is zipping past all of them.
Now valued at more than $64 billion, the ride-hail company now has a paper valuation greater than household names Kraft Foods, Delta Airlines, General Mills, CBS, Kellogg and many others.