Deepti Sri · · 1 min readSG car-sharing platform Tribecar buys local auto firm
Tribecar, a Singapore-based car-sharing platform, has acquired local auto firm, Car Club, for an undisclosed sum.
Tribecar co-founder Adrian Lee / Photo credit: Tribecar
The joint entity will provide both Tribecar and Car Club members with access to a fleet of over 1,400 vehicles in the coming weeks. The companies will also integrate processes and backend systems into their services. Customers can also expect developments in Tribecar’s mobile app, including an upgrade for quicker turnaround times and more automation.
The two firms’ members will also gain access to various subscription plans and corporate programs. These include premium luxury car options and a wider class of transport alternatives such as motorcycles, cars, vans, and lorries that range from hourly bookings to monthly subscriptions and leasing.
Established in 1997 as NTUC Income’s car-sharing cooperative, Car Club was acquired by Japanese conglomerate Mitsui in 2016. The car-sharing firm then entered into a joint venture with Japanese transportation company Willer.
Meanwhile, Tribecar is an affordable car-sharing platform that provides hourly, daily, or weekly car rental services inclusive of insurance, road tax, and maintenance.
See also: With zero funding raised, car-sharing marketplace Tribecar is profitable and growing
“With this new relationship, we will have more resources to develop our car-sharing tech arm for businesses and corporations in the region,” said Lewis Chen, general manager of Car Club.
Editing by Collin Furtado and Lorenzo Kyle Subido
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