BlueSG Reportedly In Talks To Be Sold To Goldbell Group

Launched in December 2017, BlueSG claims to be the second largest electric carsharing service in the world.

As of December last year, BlueSG had a fleet of 667 shared electric Bluecar vehicles and 1,487 charging stations at 374 locations in Singapore.

The Straits Times reported today (February 1) that BlueSG, which is a subsidiary of the Bolloré Group, is in “advanced talks” with local transportation and engineering firm Goldbell Group to take over the company’s operations.

Discussions have apparently been going on for about a year and an agreement in principle has since been reached, according to the report.

Goldbell adopts EV since 2018

Founded in 1980, Goldbell Group is Singapore’s largest commercial vehicle and industrial equipment rental and distribution company.

Goldbell has a diverse business portfolio that operates under three main business pillars: distribution, leasing and financial services.

It owns a fleet of trucks, vans, cars, buses and forklifts that it leases to companies such as transport companies and logistics startups. It is also the driving force behind all deliveries from Lazada, Qoo10, Redmart, SingPost and Ninja Van.

In an interview with Vulcan Post in 2018, Arthur Chua, CEO of Goldbell, said he heads their Future Mobility division, which focuses on innovation and technology in transportation.

He also shared while Goldbell intended to electrify its fleet of vehicles. In 2019, Goldbell set up a robotic workshop with sufficient power supply to charge vehicles.

Even as the company continues to advance its future mobility plans, Goldbell stressed that its core rental and distribution business is no slouch.

Vulcan Post has reached out to BlueSG and Goldbell Group for comment.

Featured Image Credit: BlueSG

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