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Uber Hong Kong has warned that a proposed cap of up to 15,000 ride-hailing permits could trigger a 70 per cent increase in fares and result in 40 per cent of peak-hour bookings being unsuccessful.
In a paper submitted to the Legislative Council ahead of a transport panel special meeting on Tuesday, the ride-hailing giant revealed it currently had more than 30,000 active drivers in the city.
The proposed quota of 10,000 to 15,000 permits would slash its workforce by as much as 50 per cent.
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The platform argued that the cap failed to account for growing demand and could result in a significant service gap.
“If the number of permits is capped at 15,000, we anticipate that for every 10 ride requests during peak hours, passengers may fail to secure a booking up to four times,” Uber said.
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“Even when successful, waiting times could double in certain periods, while fares could soar by 70 per cent.”
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