investorschatroom.com

Finance

Uber hits the brakes in Taiwan

Share
Uber app logo displayed on a mobile telephone as it is held up for a posed

Local media have reported that Uber has been caught in more than 48 violations since January 6, which might result in an estimated NT$1.1 billion (US$35.38 million) in fines, given that the maximum fine for the operation of illegal passenger transportation services was increased to NT$25 million with effect from that date.

The United States firm has racked up fines since it entered the Taiwan market in 2013 for running a business without the proper registration to operate as a taxi service.

Global ride-hailing company Uber is putting the brakes on its services in Taiwan amid growing pressure and fines.

Taiwan's Ministry of Transportation and Communications was not immediately available to comment.

However, the company allowed itself some leeway by announcing a plan to "halt its car-sharing platform starting February 10 in Taiwan to ponder other alternatives before acting,"and hopes to "reopen talks with the government to promote the growth of innovative transportation technologies in Taiwan under Tsai Ing-wen's leadership". The company said it has "tens of thousands" of drivers there.

Uber has had a bumpy ride in Taiwan, drawing sharp objections from the taxi industry and raising questions from the government as to whether it was flouting laws. Regardless of Uber's true intentions or any demonstrations that follow, it is fair to say that this is unlikely to be the end of Uber in Taiwan.

Richard Sherman interception highlights Seahawks' efforts in 2017 Pro Bowl
Fellow Cowboys rookie carried the ball eight times for 20 yards and was stuffed at the goal line on two runs in the first quarter. The fullback position was used sparingly in the NFC offense, but that didn't stop Tolbert from making an impact.

4 tips to help you avoid the flu during peak flu season
"The death of a child is always tragic, but this fatality is a reminder that the flu can be serious and often deadly", said Dr. CDPH recommends all Californians aged 6 month and older, including pregnant women , get the annual flu vaccine.

Samsung Galaxy S8: Launch pegged for March 29th as new details emerge
Blass reports that Samsung will go with 3000 and 3500 mAh batteries in the 5.8- and 6.2-inch models of the phone, respectively. Unlike the earlier rumor that one of these phones will feature a flat display , both S8s will feature a curved edge design.

The company has also been ordered to pay NT$134 million ($4.3 million) in alleged back taxes. It entered the Taiwan market in 2013, and its growing popularity has triggered anger among domestic taxi drivers, who staged a massive protest against Uber past year.

"In the face of this impasse, we must create a new path forward", said the company.

What the government should be doing is reexamining regulations or enacting new ones to provide modern and safe choices for consumers, while lending a hand for traditional businesses to improve or transform in order to adapt to the evolving world.

Ms Tsai's administration is pushing for Taiwan to foster its own "Asian Silicon Valley" to help kick-start the economy by encouraging and fostering start-up technologies.

"Unfortunately, the government has moved further and further away from embracing innovation and setting the stage for a 21st century transportation policy", it said.

It is understandable that the transportation ministry must enforce the new amendment to the Highway Act that took effect January 6, increasing the fines on Uber and its drivers, the company said.

Share