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Grab Enters Singapore Taxi Industry With 10-Year Licence
In a significant move, Grab Holdings has entered the taxi industry in Singapore after being granted a 10-year licence by the Land Transportation Authority. This development marks a major shift for the company, which has been focused on ride-hailing and food delivery services.
The decision comes as Grab is seeing increasing contributions from its ride-hailing and food delivery businesses. In 2024, the company’s revenue rose 19% to $2.8 billion, while its annual net loss narrowed to $158 million from $485 million in the previous year.
Under the licence terms, Grab will be required to maintain a minimum fleet of 800 taxis after three years. The company plans to use a fleet of low-emission hybrid cars and electric vehicles for its new taxi service.
The entry into the Singapore taxi industry is a significant move by Grab, as it aims to cater to unmet consumer demand and improve ride availability, particularly during peak hours, late nights, and in areas only accessible by taxis.
Source: https://www.forbes.com/sites/jonathanburgos/2025/04/02/grab-enters-singapore-taxi-industry-with-10-year-licence/
