With SG Bike's impending exit from the market, only two operators are left in Singapore - down from over five in the heyday of bike-sharing.
With SG Bike's impending exit from the market, only two operators are left in Singapore - down from over five in the heyday of bike-sharing.New: You can now listen to articles.From the get-go, the bike-sharing industry had to achieve both public transport and business objectives, and balance government and private funding, they noted in light of theSG Bike on Thursday announced it was exiting the market after nearly seven years.
These scant offerings are a far cry from bike-sharing’s boom in early 2018. At the time, Anywheel, Gbikes, Mobike, oBike, ofo, Share Bike SG and SG Bike offered about 200,000 dockless shared bicycles in total. The bike-sharing model is distinct from traditional bike rental, which tends to be “very location-specific and tourist-oriented”, noted the associate professor at the Singapore University of Social Sciences.
He pointed out that many operators tend to misunderstand their customer profile by emphasising benefits like decarbonisation and going"car-lite". “Little things like that … maybe a bike-sharing company can expand in that sense because they are reaching out to a customer profile who use bicycles for various reasons.”
Doing so, however, also creates the possibility that some markets aren't large enough to support multiple competitors.Mr Tham believes the government may have “stepped in too much”. It makes things “quite difficult” and “not conducive” for people to invest in bike-sharing companies, he said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
End of road for SG Bike, users to be transferred to bike-sharing rival AnywheelSG Bike had accumulated losses of $7.4 million in FY2022.
Read more »
Anywheel takes over bike sharing services amidst SG Bike’s closurepstrongspanspanspanspanspanspanspanAn early incentive is available until 21 April./span/span/span/span/span/span/span/strong/p pspanspanspanspanspanspanspanSG Bike users are given the choice to transfer to Anywheel as SG Bike ceases operations after 30 April.
Read more »
Report shows gov’t is still number 1 trusted institution in Singapore —Singapore Newsin contrast to Singapore’s results, government is distrusted in 17 out of the 28 countries surveyed, including the United States
Read more »
Singapore Discovery Centre becomes first energy-positive museum in SingaporeThe Singapore Discovery Centre is the first museum in Singapore to generate more electricity than it consumes. The decades-old attraction became energy-positive after generating about 30 per cent more energy on average than it needed from October to February.
Read more »
Dr Eugene Tan to be new CEO of National Gallery Singapore and Singapore Art MuseumDr Eugene Tan will take on the role of chief executive of the National Gallery Singapore and Singapore Art Museum from April 1. He will also take Ms Chong’s other portfolio as head of the Visual Arts Cluster, which comprises the two museums and STPI – Creative Workshop & Gallery.
Read more »
Commentary: Why are more people in Singapore going bankrupt?Personal bankruptcy applications hit an 18-year high of nearly 4,000 last year. Is this a cause for concern? Lawyers Lance Ang and Adrian Peh weigh in.
Read more »