Taxelco

Taxelco's business model revolved around acquiring established taxi companies and integrating them into a unified, technologically advanced platform. Its most significant early move was the concurrent launch of Téo Taxi, Canada's first all-electric taxi fleet, featuring vehicles like Nissan LEAFs, Kia Souls, and Teslas. To rapidly gain market share, Taxelco acquired Taxi Hochelaga in 2015 and followed this by purchasing Taxi Diamond, Montreal's largest taxi network, in 2016. This consolidation strategy brought over 1,720 vehicles under its operational influence, serving a broad client base from individual riders to corporate and institutional accounts. Revenue was generated through taxi fares, with Téo Taxi initially operating on a model with company-owned cars and salaried drivers, while acquired brands like Diamond and Hochelaga maintained their traditional agency models with self-employed drivers.

The company's service was distinguished by its mobile application, which allowed for seamless booking and payment, and in-car amenities like free Wi-Fi and phone chargers. However, the capital-intensive model of owning an electric fleet and employing salaried drivers led to financial difficulties. In early 2019, Taxelco filed for creditor protection, and Téo Taxi operations ceased. A new chapter began in the spring of 2019 when businessman Pierre Karl Péladeau acquired Taxelco's assets, ensuring the continuity of Taxi Diamond and Taxi Hochelaga. Téo Taxi was officially relaunched in October 2020 under a revised model using self-employed drivers. In 2024, all operations were consolidated under the single Téo Taxi brand, signaling a unified future that continues Taxelco's original mission. Keywords: Montreal taxi, electric vehicle fleet, ride-hailing service, urban mobility, transportation consolidation, Téo Taxi, Alexandre Taillefer, Pierre Karl Péladeau, XPND Capital, Taxi Diamond, Taxi Hochelaga, sustainable transport, taxi technology, paratransit services, airport taxi service, corporate transportation, app-based booking, electric taxi, Montreal transportation, green transport, mobility solutions