Uber suspends service in Taiwan as fines mount

Uber is withdrawing from Taiwan in hopes of not having to pay millions of dollars in fines.

Taiwan, which considers Uber’s ride-hailing business model to be illegal, has levied hundreds of fines at the U.S. company.

"We have not made this decision lightly, as we know it will have a significant impact on hundreds of thousands of drivers and riders," Uber said in a statement that criticized the Taiwan government for failing to embrace innovation.

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