LTA gives SG Bike green light to acquire Mobike’s Singapore license

Singapore bike-sharing company SG Bike has announced it received authorization from the Land Transport Authority (LTA) to acquire Mobike’s license in the city-state.

Photo credit: SG Bike

With the approval, Mobike’s fleet of 25,000 bicycles will be transferred to SG Bike. The two companies are now working to test system and user transfer integration, which is expected to be completed in the coming weeks.

According to a statement, existing Mobike users will still be able to unlock bicycles from the Mobike app.

After the transfer is completed, SG Bike users will be able to access SG Bike and Mobike-branded bicycles from the SG Bike app. Mobike’s existing users will also be given the option to transfer any credits they may have to SG Bike’s service.

ISOTeam, an urban planning and civil engineering company which owns a 51% share of SG bike, previously said that it will pay Mobike US$1.85 million as part of the deal.

The agreement was first announced in August of this year. Around the same time, local competitor Moov Mobility has applied for a full license in LTA’s latest bike-sharing license application cycle as it looks to expand its fleet. The company currently operates 1,000 bikes in the western part of the city-state, in places such as Boon Lay and Pioneer.

In June, another local bike-sharing firm, Anywheel, said it’s looking to expand its fleet to 10x its current size of roughly 1,000.