Taxelco's story is one of ambition, innovation, adaptation, and ultimately, integration into a leading modern mobility provider.
Taxelco was established in 2015 by XPND Capital, led by Alexandre Taillefer, to address the need for modernization in Montreal's taxi sector. The mission was clear: consolidate the industry, introduce electrification to reduce emissions, improve driver conditions, and offer a superior customer experience through technology. This year saw the acquisition of the established Taxi Hochelaga (founded 1967) and the landmark launch of Téo Taxi, Canada's first all-electric taxi fleet, signalling a bold commitment to sustainable urban transport.
To accelerate its impact, Taxelco acquired Taxi Diamond, Montreal's largest taxi network (founded 1922), in August 2016. This move significantly increased the group's fleet size to over 1,720 vehicles, expanded geographical coverage, and provided a large base for implementing Taxelco's technological and service standards. Taxi Central Beloeil also joined the group, extending regional presence. While Téo operated with company-owned cars and initially salaried drivers, Taxi Diamond and Hochelaga maintained their agency models.
Despite early successes, financial challenges emerged, particularly with the Téo Taxi operational model involving company-owned EVs and salaried drivers. In January 2019, Téo Taxi operations ceased , and in February, Taxelco Inc. and related entities sought creditor protection under the CCAA. This period necessitated a significant restructuring to ensure future viability.
In the spring of 2019, businessman Pierre Karl Péladeau acquired Taxelco's assets, including Taxi Diamond, Taxi Hochelaga, and the Téo Techno platform, ensuring operational continuity. Téo Taxi was officially relaunched in October 2020 with an initial fleet of 55 electric vehicles, operating under an adapted model using self-employed drivers within an evolved regulatory context. The core commitment to electrification and technological advancement remained central to the renewed vision.
In 2024, a strategic decision was made to consolidate all operations under the single, recognized brand Téo Taxi. This unified entity continues to grow, acquiring Radio Taxi Union in 2025 to expand to the South Shore and securing the exclusive taxi service contract for YUL Montréal-Trudeau International Airport starting May 2025. Today, Téo Taxi embodies the evolution of Taxelco's original mission, operating a large, diverse fleet with a significant and growing electric component, managed through the Téo Taxi app.
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