Thursday, 18 October 2018

LEVC announces launch of TX in Paris set for early 2019

via taxi-point
The TX eCity has now been approved by Parisian authorities and will legally be able to be used as a working taxi in the City.
This news comes many months ahead of the vehicle’s intended launch into the City and underlines the ongoing international interest in LEVC’s flagship commercial vehicle.
With almost 600 TX cabs now on the streets of London, the vehicle is already contributing to the Capital’s air quality, whilst offering drivers and passengers alike a notably superior ride as well as greater comfort and connectivity. Added to this, drivers are reporting fuel savings of more than £100 a week. Similar benefits would be expected to be replicated in Paris. The Paris launch is currently tabled for the first half of next year, with a launch date to be confirmed once negotiations with the favoured importer have been completed. This means that Paris will soon join Amsterdam, Berlin, Hamburg and Oslo in seeing this electric taxi on its streets.
With air pollution killing around 48,000 people in France every year, and growing levels of smog in Paris itself, the TX has come at a vital time. Under Mayor Hidalgo, Paris has taken an aggressive stance towards conventional petrol and diesel vehicles with pre-2005 diesel vehicles to be banned next year, and all diesel vehicles to be banned by 2024. These changes will have a significant impact on Paris’ 20,000 taxis, and LEVC believes it has a cost-effective solution for the City’s cabbies.
Chris Gubbey, CEO of LEVC said: “Given the air pollution difficulties facing French cities, we are very much looking forward to giving both drivers and passengers new options in Paris following a very positive reception on the streets. This truly bolsters our European position and we look forward to serving the cities of France alongside those in Norway, the Netherlands and Germany.” Claire Perry, Minister for Energy and Clean Growth, said: "The UK has led the world in cutting emissions whilst growing our economy - with clean growth driving incredible innovation and creating hundreds of thousands of high quality jobs. Ten years on from the Climate Change Act, the first ever Green GB week is a time to build on our successes and explain the huge opportunities for business and young people of a cleaner economy. I’m delighted to see how many more businesses and organisations such as LEVC are seizing this multi-billion-pound opportunity to energize their communities to tackle the very serious threat of climate change.”
October 18, 2018 at 11:26AM Perry Richardson THESE POSTS ARE NOT OUR ENDORSEMENT

Uber Technologies Inc raises $2bn in debut bond sales

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Ride-hailing app Uber, this week sold $2 billion worth of bonds in what’s known as a private placement, according to a report in the FT.
The company was originally reported to of been offering up a total of $1.5 billion worth of bonds, but the demand was such, that they increased the available bonds to a staggering $2 billion.
The firm, which has been no stranger to controversy, was still able to raise $1.5 billion through the sale of eight-year notes with a yield of 8%, and an additional $500 million through the sale of five-year notes with a yield of 7.5%.
Uber is gearing up for an initial public offering which they hope to push through some time in 2019, with an evaluation reported at around $100 billion. The firm is currently one of the most valuable privately held firms in the world.
October 18, 2018 at 10:38AM Michael Murphy THESE POSTS ARE NOT OUR ENDORSEMENT

Over 7,500 London cabbies sign up to win back loss of earnings against Uber

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Over 7,500 London cab drivers have registered their interest in the action which seeks to win back loss of earnings against ride-hailing operators Uber.
Cabbie Group Action sets to bring a potential group legal action against Uber for damages and loss of earnings due to the alleged unlawful operation of Uber under the relevant statutory framework. The action is being lead by leading law firm Mishcon de Reya and is fully funded by litigation firm Harbour. If a minimum number of drivers sign up, Harbour will pay all of the legal costs in return for a share of any damages received. It means cabbies will not have to pay their own legal fees. If the group action is not successful, it also means they won’t have to repay Harbour. It is only when there is a win, and damages have been received, that Harbour will get a pre-agreed share of the award.
The group are urging more drivers to sign up to the action. Richard Leedham a Partner at Mishcon de Reya, the London law firm leading Cabbie Group Action, said earlier this year: “Many have criticised the case because they say the black cab trade have failed to modernise and that Uber's success is just an example of lawful competition. “The claim isn't about stopping Uber operating or based on complaints around uncompetitive behaviour. Competition on price, innovation, service and quality is a positive thing. What it is about is holding Uber to account for what we believe are their unlawful operations since 2012. “We believe they failed to adhere to the statutory framework which regulates the London taxi trade and this has been to the detriment of licensed taxi drivers that have been operating lawfully. Uber should not be able to get away with this and Cabbie Group Action aims to hold them to account.”
October 18, 2018 at 02:07AM Perry Richardson THESE POSTS ARE NOT OUR ENDORSEMENT