(NEW YORK, NY) – NYC taxis are making a comeback.
Since the city has been introduced to ride-hailing apps such as Uber and Lyft, taxis have seen a dip in customers as well as more road traffic.
As part of a two-year pilot program, a new smartphone app for yellow and green taxis will allow passengers to get fare pricing upfront, surge-free pricing, and estimated arrival times all before hailing a trip.
The Midtown-based startup, Waave, will allow taxis to compete with billion dollar ridesharing companies. Since ride-share apps have hit the streets, taxi drivers have reportedly suffered nearly 30 percent income cuts.
The Taxi and Limousine Commission’s approval of the app comes after a recent City Council vote in favor of putting a cap on the number of for-hire vehicles allowed on the city’s streets.
“The increase in for-hire vehicles on New York City streets has slowed traffic to a crawl in many places, increased carbon emissions, and harmed the livelihoods of middle-class taxi drivers who have kept the city moving for decades,” said Waave CEO, Daniel Iger. “Our goal is that New Yorkers who care about their city and the things that make it unique like our iconic yellow taxis will join Waave in creating a smarter solution that benefits everyone.”
Waave will officially launch in the next few weeks and will expand to all five boroughs in the coming months.