HKTaxi founders reveal plan to bid for Hong Kong premium taxi franchise, with HK$100 million investment
- Company wants to operate 200 luxury cabs under a controversial scheme proposed by the government to raise standards
- Passengers to pay more for a better service, but the plans anger taxi groups
Two entrepreneurs behind the city’s most popular taxi-hailing app have said they would up the stakes and invest HK$100 million (US$12.8 million) in luxury cabs if the government pushed through its controversial plans for a new upmarket service.
Kay Lui, 34, co-founder of HKTaxi, has revealed he and his business partner Maff Wong, also 34, plan to bid for the operation of 200 premium cabs under the proposed franchised taxi scheme, which is likely to go before the Legislative Council this year.
The government wants to see a new fleet of 600 higher-quality cabs on Hong Kong’s streets, with operators able to charge more for journeys.
Launched in July 2013 by the two newcomers to the taxi industry, HKTaxi has a 70 per cent market share in the ride-hailing market, with more than 60,000 registered drivers and over 1.4 million users.
Employing about 30 staff, it has served 40,000 to 50,000 orders every day in a competitive market also featuring Fly Taxi, God Taxi, eTaxi and SuperCab.