The Goldbell Group (Goldbell) confirmed its acquisition strategy with BlueSG on Friday, February 5th, 2021. The company will take full ownership of Singapore’s leading electric car sharing network by August 2021.
BlueSG was launched in 2017 and has grown since 2017 under the Car Sharing Electric Vehicle (EV) initiative of the Singapore Economic Development Board (EDB) and the Land Transport Authority.
Today BlueSG has a total fleet of more than 650 electric vehicles with a record 1,700,000 rentals and 100,000 subscriptions sold. This makes it one of the best local car sharing platforms.
Takeover within Goldbell and BlueSG
Arthur Chua, CEO of Goldbell Group, mentioned that the $ 70 million investment will go into areas like adding new electric vehicles to the fleet that go beyond BlueSG’s signature blue hatchbacks. The company also plans to partner with other EV charger providers to provide convenient solutions for BlueSG users.
Goldbell will also set up a new research and development center with a dedicated technology team that will work on developing new mobility technologies and algorithms.
Adds Mr. Chua, “Autonomous, Sharing Economy and Electric are the key pillars required to fulfill Goldbell’s vision for future mobility and our core value of sustainability. The acquisition of BlueSG is obviously critical to us To bring the goal closer. “
The overall goal of Goldbell is to position BlueSG as one of the world’s largest environmentally friendly car sharing companies. Looking to the future, companies are ready to respond to changes in the next 40 years and create sustainable solutions for the future.
Despite the acquisition in the next six months, customers will continue to receive efficient services from BlueSG. Day-to-day operations will be managed by the Bolloré Group until Goldbell officially takes over management.
This article was first published in Motorist.
