Mexico City unveils first regulation on Uber in Latin America

GREEN LIT: Mexico City has announced rules for Uber to comply with in the city, but most importantly it has officially sanctioned the startup's continued operations, to the fury of local taxi unions.

MEXICO CITY: Mexico City became the first city in Latin America to regulate Uber, announcing rules that include a 1.5% ride levy, a yearly permit fee and a minimum vehicle value. 

The city government said vehicles used by Uber and other services such as Cabify would have to cost at least 200,000 pesos (RM48,221). That was 50,000 pesos (RM12,056) less than in draft regulation seen by Reuters last week, but more than the company had hoped. Each Uber vehicle will also need a 1,599 peso (RM385.55) yearly permit that will be paid by the driver.