Thursday, 2024 February 29

EV sharing firm BlueSG reportedly in talks to be sold to Goldbell

The Straits Times reported on Monday that BlueSG, a subsidiary of Bolloré Group, is in “advanced talks” with local transport and engineering firm Goldbell Group to take over the company’s operations. Discussions have apparently been ongoing for about a year and an in-principle deal has since been struck, according to the article.

Launched in December 2017, BlueSG claims to be the world’s second largest electric car-sharing service. As of December, the firm had a fleet of 667 vehicles and 1,487 charging stations spread across 374 locations in Singapore.

Goldbell Group is Singapore’s largest commercial vehicles and industrial equipment distribution and leasing company, with a diversified business portfolio. It owns a fleet of trucks, vans, cars, buses, and forklifts, which it rents to businesses like transport firms and logistics startups. It is also a driving force behind Lazada, Qoo10, Redmart, SingPost, and Ninja Van deliveries.

In a 2018 interview with Vulcan Post, Goldbell CEO Arthur Chua said that he was spearheading a Future Mobility division, which focuses on innovation and technology in transport. He talked about the company’s plans to electrify its fleet of vehicles. In 2019, Goldbell set up a robotics-enabled workshop with sufficient power supply to charge vehicles.

This article was originally published by Vulcan Post


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