SG Bike or become the dominant player in the shared bicycle market in Singapore.
SG Bike applied for a license to the Land Transport Authority on June 27, 2018. It was the first shared bicycle company to submit a license application in Singapore. A licensed company can provide two years of service, but the Land Transport Bureau can limit the number of bicycles placed by the company and require the company to take steps to ensure that users do not park, or they will be fined or even revoked.
The SG Bike license can operate 3,000 bicycles in Singapore, while Moby allows 25,000 vehicles. If this transaction is completed, SG Bike will become the dominant player in the shared bicycle market in Singapore. Currently, in addition to SG Bike, the other two players in the Singapore shared bike market are Moov and AnyWheel.
If Mobha’s license is taken over by SG Bike, it can be said that theo and Moby’s trip to Singapore is basically over. The ofo license has been suspended from the Singapore Traffic Management Bureau since February 14.
Does sharing bicycles go to Singapore?
For shared bicycles, the industry is still looking for an appropriate business model. Domestic bicycles such as Little Blue, Haro and Moby have started to increase prices several times this year. Although they can increase their revenue in a short period of time, in the long run Whether it will cause user loss is still unknown.
Considering Singapore’s climate, traffic environment, and a well-established public travel system, it is not necessarily the first choice to travel to the last mile of shared bicycles.
The service of sharing bicycles brings convenience, and the problem of bicycle parking and occupying sidewalks is also dissatisfied. In addition, The supervision of the industry by the Land Transport Bureau has also overwhelmed the invaders. When the Singapore-based shared bicycle company oBike stopped its local business in 2018, it said that it “cannot adapt to the regulations of the Land Transport Bureau to control the sharing of bicycles”.
In the two years since its establishment, oBike has covered more than 20 countries and tried to enter the blockchain field to launch the cryptocurrency oCoins. However, due to the break of the capital chain and regulatory issues, it has closed its overseas business in 2018. The Singapore business was stopped at the end of June.
