Parent company Taxelco said its electric taxi service was unprofitable, citing government policy and problems with electric cars in Canada’s climate. The company launched its fleet of electric vehicles and mobile app three years ago as a competitor to ride-hailing giant Uber, and as an alternative to traditional taxi services. (Montreal Gazette)

Talking point: Téo’s decline came quickly. Just last year, backers including the Caisse de dépôt et placement du Québec—one of the province’s major tech investors—put $17 million into Taxelco to expand. But Téo’s fleet faced problems with the city’s cold temperatures; many had to be recharged several times a day in winter months. And, the company’s said its requests for the government to allow dynamic pricing—such as surcharges for travelling during peak periods, riding in a Tesla or reserving a car in advance—went unheard, despite the province giving the company millions in grants, loans and subsidies.