The Government of Quebec is committing $44 million over five years to modernize the taxi industry starting in 2018, according to the CBC.
Specifically, Transport Minister Andre Fortin said the funds help taxis gain access to new technologies, such as electric vehicles and recharging infrastructure and increased accessibility for customers with disabilities.
Some cab drivers have paid $200,000 for permits that are now worth as little as $75,000, in part due to increased competition, primarily from Uber.
The government also said it won’t reimburse taxi drivers immediately for the diminished value of their permits, although it is working on a way to compensate them in the future. In Quebec, some cab drivers paid as much as $200,000 for permits a few years ago; these are now worth as little as $75,000, partially due to increased competition from companies like Uber. Fortin said the goal is to determine a specific dollar figure by the end of February, ahead of the next provincial budget.
This article was originally published on MobileSyrup
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