Loss-making shared bicycle operator SG Bike will be exiting the Singapore market on April 30 when its licence expires, and its customer base will be ported over to rival Anywheel from March 21. In the arrangement between the two companies, SG Bike users will see their...
Loss-making shared bicycle operator SG Bike will be exiting the Singapore market on April 30 when its licence expires, and its customer base will be ported over to rival Anywheel from March 21.
will receive complimentary $10 ride-only credits on top of their existing balance. The converted balances can be used only for rides. SG Bike entered the market in August 2017. In November 2019, it took over the now-defunct Mobike’s licence to operate 25,000 bicycles.decided not to extend its licence due to a “strategic shift”.
This leaves market leader Anywheel and Chinese firm HelloRide as the only two bike-sharing operators in Singapore. HelloRide, which began operations here in July 2022, was awarded a licence to operate a fleet of up to 10,000 shared bicycles in Singapore in July 2023. “The arrangement is made purely in consideration of the whole bike-sharing environment,” added Mr Htay Aung. “It is a win-win situation for both companies, as there is no disruption to the market and to all users.”
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