SINGAPORE : SG Bike's application to take over Mobike's bike-sharing licence has given the green light by the Land Transport Authority (LTA), making the local firm Singapore's largest bike-sharing operator.
In response to reporters, the LTA said on Friday (Sep 13) it has given its in-principle approval for the transfer of the Chinese firm's licence, with a maximum fleet size of 25,000, to SG Bike.
“We understand that SG Bike and Mobike are currently working out the operational details of the transfer,” the authority added.
SG Bike said in a statement that the transfer would take place at “a later date”.
"SG Bike is working closely with Mobike to complete and test system and user transfer integration. It is expected to be completed in the upcoming weeks," the statement added.
Existing Mobike users would still be able to use the Mobike app to unlock its bicycles, SG Bike noted.
BIGGEST OPERATOR IN SINGAPORE
In March, Mobike announced plans to withdraw from the Singapore market so as to “rationalise” its operations in Southeast Asia.
The company – which has been operating in Singapore since early 2017 – had said at the time that it was exploring all options, including possibly transferring its business or licence to other companies, so as to minimise the impact on consumers.
SG Bike's new fleet size of 25,000 bicycles will make it the largest in the country.
Anywheel, which is licensed to operate 10,000 bikes, and Moov Mobility, which has a sandbox licence to run a fleet of 1,000 bikes, are the other two bike-sharing operators in Singapore.
Shanghai-based oBike announced its abrupt exit from Singapore last year, leaving users with S$8.9 million in unrefunded deposits.
In April this year, ofo’s licence to operate its bike-sharing service here was cancelled after it failed to comply with LTA regulations.