Part 8/10:
Given the evolving landscape, it's crucial to note that the number of licensed black cabs in London has been declining due to so many factors, including competition from rideshare services, the increasing prevalence of cycling lanes, and the rising costs of being a taxi driver.
The high cost of acquiring a black cab, estimated at around £55,599 (or about $70,000), further complicates the issue. In comparison, Cyber Cabs are projected to have a significantly lower purchase price—initial estimates suggest costs could be around $40,000 to $50,000—effectively making them a more accessible option for potential taxi operators.