Hailo runs out of fuel as app rebranded to MyTaxi

Ride-hailing service Hailo has been rebranded as MyTaxi after the merger with Daimler's service of the same name in August of last year.

Hailo will also roll out a new set of services via its app this week which will take one of Uber's main rivals to more than 50 cities across Europe.

Hailo merged with Mercedes Benz parent company Daimler last year in an all-share deal which saw 60% of the firm being controlled by the latter.

MyTaxi already has a presence in most major European cities, including the likes of London, Madrid, Dublin and Barcelona after launching in 2009.

Chief executive Andrew Pinnington said that Hailo customers would be encouraged to migrate over to the new MyTaxi app, and added that he was optimistic that the majority will have done so over the next few months.

"The joining of mytaxi and Hailo is another strategic step in making us a leader of mobility solutions and platforms," Pinnington said in a press release.

"By combining Hailo and mytaxi, we have created the largest European taxi e-Hailing company. We bring together world class technology, an iconic brand, high quality people and the financial backing of our shareholders," the Hailo CEO added.

Hailo was forced to withdraw its North American operations in 2014 when it admitted that it could no longer compete with competition from the likes of Uber and Lyft. Uber has firmly established itself as the principal force to be reckoned with in the "on-demand" driving market in recent years.

MyTaxi founder Niclaus Mewes said that rebranding could allow the company the ability to compete at the highest level of the market.

"Hailo and mytaxi are both market leaders in the countries we operate. Together we are even stronger and we look forward to further innovative transport and mobility solutions as we provide compelling offers for both drivers and passengers."