Ride-hailing Firm Grab to Add 200 EVs to Fleet
【Summary】Through a partnership with local energy utility provider SP Group, the business will incorporate 200 fast-charging EVs to its fleet by 2019.
The transition to electrified transportation is a rapidly developing trend in the automotive sector. From official government fleets to businesses that offer ride-hailing services, EVs will inevitably reach mainstream status in the coming decades.
Singapore-based Grab (formerly GrabTaxi) is the latest company to announce the addition of EVs to its ride-hailing operations. Through a partnership with local energy utility provider SP Group, the business will incorporate 200 fast-charging EVs to its fleet by 2019.
EV Ride-hailing Fleet
Grab plans to offer benefits to drivers of the upcoming EVs, including discounted parking rates. Individuals using the sustainable automotive units will earn up to 25 percent more in daily income, compared to drivers of gas-powered cars. Additionally, drivers will be in a position to receive discounted EV charging rates from SP Group.
According to the company, its EVs are expected to have an estimated driving range of 248.5 miles per full charge.
"The pervasive fast-charging network will provide Grab's EV drivers with convenience and speed in charging their vehicles, while helping them to achieve energy and cost savings," said Goh Chee Kiong, Head of Strategic Development at SP Group.
"This will accelerate the wider adoption of EVs in Singapore and support the nation's efforts to reduce our carbon footprint."
Ride-hailing giant Grab has an expansive presence in over 65 major cities within Asia, with established operations in Malaysia, Vietnam, Philippines, Thailand and Indonesia. Its all-encompassing services include GrabCar, GrabBike (motorbikes), GrabHitch (car-pooling services), GrabPay (digital payments), GrabExpress (last-mile deliveries) and more.
New Partnerships and Projects
The company's partnership with SP Group is significant. The energy provider is currently in the process of deploying 500 EV charging stations by 2020. By the end of 2018, up to 30 EV charging hubs will be available for public use in Singapore at residential spaces and business centers. Using fast-charging technology, SP Group's EV hubs can fill a standard EV battery in 40 minutes.
Grab will help SP Group implement an effective utilization plan by leveraging usage data from its EV fleet. At the moment, the utility company operates a total of 40 EV charging stations across the country.
Unexpectedly, Grab is also partnering with Ping An Healthcare and Technology Company Limited (Ping An Good Doctor) on projects that aim to expand online healthcare service offerings within Southeast Asia. Ping An is considered to be one of the biggest online healthcare companies in China.
Moreover, the business is an investor of Grab, as it participated in the ride-hailing company's Series H funding round. The financing round, which raised $1 billion, was led by Toyota and valued Grab at $10 billion (pre-money valuation). Other notable investors of the company include Japan-based SoftBank and Didi Chuxing.
"We are thrilled to partner Ping An Good Doctor (PAGD) for Grab's first venture into online healthcare," cited Anthony Tan, CEO and Co-founder of Grab.
"Grab was founded on the principle of bringing accessible and affordable services to the masses in Southeast Asia, be it in transport, payments, food delivery or groceries."
Michael Cheng is a legal editor and technical writer with publications for Blackberry ISHN Magazine Houzz and Payment Week. He specializes in technology business and digesting hard data. Outside of work Michael likes to train for marathons spend time with his daughter and explore new places.
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