Local taxi companies say they are not too concerned about the new competition and are planning their own entry into the ride hailing market.

An association spokesperson said an early release of its ride-sharing plans caused a problematic ripple, and that they had no comment at this time.

The City of Vancouver has signed off on inter-municipal rideharing licences for Lyft and Uber.

In a letter sent to Transportation Minister Claire Trevena, the companies say a Class 5+ licence could provide short-term work for those out of a job.

“Within the next few months we should be operational in the majority of British Columbia.”

The B.C. Passenger Transportation Board rejected four ride-hailing applications proposed for the Okanagan.

Lyft now operates in all of Vancouver, Richmond and New Westminster along with North Surrey, while Whistle! Ride is active in the Whistler area.

Lawyers for both sides in the dispute were in court Wednesday to plead their cases over an injunction sought by Uber against the city.

The taxi companies' court filings argue that the PTB decision will wreak "economic devastation" on them, and are seeking to see Uber and Lyft's licences suspended.

Ridesharing has now set up shop in B.C. and depending on how you look at it, this development is either a tremendous breakthrough for consumers or the worst thing to come along in quite a while.