Goldbell Group’s Bold Move: Taking Over BlueSG
On Friday, Feb 5, 2021, Goldbell Group made headlines by announcing its plan to fully acquire BlueSG just a few months later, on August 2021.
What’s BlueSG All About
Launched back in 2017, BlueSG grew under the watchful eyes of Singapore’s Economic Development Board (EDB) and the Land Transport Authority (LTA) as part of the national‑level EV Car Sharing initiative. It’s basically Singapore’s electric‑ride‑share superstar.
The Numbers That Make It Stand Out
- Currently boasting a fleet of over 650 electric vehicles.
- In the last few years, the platform logged a staggering 1.7 million rentals.
- More than 100,000 subscriptions sold—talk about a loyal fan base.
With these numbers, BlueSG has solidified its spot as one of the top local car‑sharing platforms—and now it’s getting a new owner in the form of Goldbell Group.
Acquisition within Goldbell and BlueSG
Goldbell Group Pulled the Plug on a $70 Million Power‑Ups
The CEO of Goldbell Group, Arthur Chua, just dropped a hefty cash‑drop of $70 million on a plan to electrify the city. “We’re not just sticking to BlueSG’s goofy white hatchbacks,” he noted, hinting that the fleet will soon look like a rainbow of clean‑energy rides.
What’s the Money Going To?
- New Electric Vehicles – Adding fresh EVs to the already popular BlueSG lineup.
- Cross‑Partnering with Other Chargers – Making sure BlueSG users can tap any nearby charging station, like a “kiss‑afresh” in a world of parking.
- R&D Hub – A brand‑new lab for tech geeks to cook up next‑gen mobility gadgets and mind‑bending algorithms.
A Simple Quote from Chua
“Autonomous, Sharing Economy and Electric are the three pillars of Goldbell’s Future Mobility vision. Sustainability is our core value, and acquiring BlueSG is key to closing that gap.” – Arthur Chua
Goldbell’s Big Dream
They’re on a mission: Turn BlueSG into one of the globe’s biggest eco‑friendly car‑sharing empires. The plan is like a 40‑year contract with the future, creating sustainable solutions that keep the planet happy and the cabbies thriving.
What About Current Customers?
BlueSG folks don’t lift a finger. The service will keep running as usual under Bolloré Group’s management for the next six months while Goldbell whisks over the reins. No more hassle, just more vehicle smiles on the streets.
— First published in Motorist, highlighting the Money, Cars, Investment, and Acquisition buzz that’s electrifying the market.
