Why is it so hard for bike-sharing companies to survive in Singapore?

SINGAPORE: The impending extinguish of the highway for but any other bicycle-sharing operator in Singapore highlights the ongoing wrestle to manufacture a a success substitute model, basically basically based on transport analysts.

From the salvage-plod, the bike-sharing substitute had to enact both public transport and substitute targets, and steadiness authorities and deepest funding, they notorious in gentle of the exclaim and bust of motorcycle-sharing right here in decrease than a decade.

SG Bike on Thursday (Mar 21) announced it modified into exiting the market after nearly seven years. Its customers would be ready to port their existing wallet steadiness to broken-down rival Anywheel’s platform by the tip of April.

This might perhaps create Anywheel, which started off with a mercurial of 30,000 in 2022, successfully the finest player in Singapore’s bike-sharing market.

The handiest other operator is Chinese language firm HelloRide, which bought a licence closing July allowing it to operate as a lot as 10,000 bicycles.