59113
50140
56468
S&P/TSX
16296.97
-34.06
(-0.21%)
S&P-CDNX
691.96
+5.48
(0.80%)
S&P-500
2862.96
+5.91
(0.21%)
NASDAQ
1217.41
-4.54
(-0.37%)
Dow
25822.29
+63.60
(0.25%)
Dollar
0.76800
+0.00113
(+0.14746%)
Oil
66.18
+0.34
(+0.52%)
Gold
1201.90
+1.90
(+0.16%)
Silver
14.770
+0.004
(+0.03%)


Car2Go ends operations

Car2Go is suspending its Toronto operations at the end of the month because of forthcoming parking regulations.

The car-sharing company's president Paul DeLong says it will be impossible to operate in Toronto come June, when a city-run pilot program will forbid the use of almost 10,000 parking spaces where users usually pick up or leave Car2Go vehicles.

He is also complaining that Toronto's city council recently passed parking permit fees, requiring companies taking place in a new car-sharing pilot to pay $1,499.02 per vehicle.

In an open letter DeLong released on Wednesday morning, he says calling the move a disappointment would be "a huge understatement."

He says the company did not want to cease its Toronto operations, but felt it has no other choice.

Car2Go launched in Toronto in early 2016 and operates in 26 cities around the world, including Calgary, Montreal and Vancouver.



More Business News

54067
Data from CryptoCompare
Recent Trending
52356
Okanagan Oldies
Castanet Proud Member of RTNDA Canada
Press Room
59079
58455