News

Uber Might Have to Pay a Hefty Fee to Operate in London

Uber is incredibly popular around the world, particularly in capital cities such as London. However, the company might have to pay as much as £2.2 million for a five-year license in order to operate in the UK’s most populous city, and that’s because Transport for London has recently proposed a series of license fee changes. These changes would dramatically alter the current two-tier system based on “small” and “standard” levels by implementing a five-level structure. To be more specific, companies with more than 1,000 vehicles in their service would be able to pick between two payment options, one of which is £33,304 per year and £14 per registered vehicle, or £166,518, plus £68 per vehicle, with the latter option covering five years.

With Uber having more than 30,000 drivers in London, the company would have to fork out £453,304 per year, or £2.2 million for a five-year license, which is definitely nothing to sneeze at even though we’re talking about a very successful service. TfL’s representatives issued the following statement regarding the proposed changes:

“Given the emergence of large operators in recent years with, in a few cases, many thousands of drivers/vehicles working for them, it is clear that the current structure does not now, in any way, reflect the true cost of compliance activity for larger operators. To illustrate the scale of this discrepancy, the largest operator currently pays the equivalent of just £565 per annum (over five years) for a licence which costs over £500,000 per annum to enforce.”

Uber has not issued an official statement at the time of writing.

Cernescu Andrei

Candrei is a writer for eTeknix who loves the latest technology news and gaming.

Disqus Comments Loading...

Recent Posts

COLORFUL Launches CVN B650M GAMING FROZEN AM5 Motherboards

Today Colorful Technology has launched two new AMD B650 motherboards under their CVN Gaming Frozen…

42 mins ago

Sharkoon Unveils SKILLER SGK40 Mechanical Gaming Keyboard

Sharkoon Technologies has today unveiled their SKILLER SGK40, a customizable mechanical gaming keyboard with edge…

1 hour ago

MSI MAG 274UPF E2 4K Ultra HD Monitor Coming Soon

MSI has just revealed their latest feature-packed gaming monitor, the MSI MAG 274UPF E2. It…

3 hours ago

Thermaltake Reveal New S250 TG ARGB Mid-Tower Case

Thermaltake has just revealed its latest addition to its already packed and awesome case collection,…

3 hours ago

No Man’s Sky Orbital Update Trailer Released

Hello Games continues its road to redemption with No Man's Sky, however, I'd say we're…

3 hours ago

Cooler Master Reveals TD500 MAX ATX Case

Cooler Master, one of the biggest names for PC cases and PC cooling has today…

4 hours ago