Paris is pulling the plug on its electric carsharing program, Autolib, due to substantial monetary losses by its parent company and consumer complaints.
Bloomberg reports that Bollore SA, the conglomerate that operates Autolib, predicted a loss of 300 million euros ($348 million) over the next five years. After requesting taxpayers to supplement much of its operating costs, Paris officials canceled their contract with Ballore. Customers also reportedly complained about the conditions of the cars.
