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S’pore Electric Car-Sharing Firm BlueSG Reportedly In Talks To Be Sold To Goldbell Group

Launched in December 2017, BlueSG claims to be the world’s second largest electric car-sharing service.

As of December last year, BlueSG has a fleet of 667 shared electric Bluecar vehicles and 1,487 charging stations that is spread across 374 locations in Singapore.

The Straits Times reported today (Feb 1) that BlueSG, which is 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 report.

Goldbell Has Been Embracing EV Since 2018

Founded in 1980, Goldbell Group is Singapore’s largest commercial vehicles and industrial equipment distribution and leasing company.

Goldbell has a diversified business portfolio that operates under three main business pillars: distribution, leasing, and financial services.

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 the driving force behind all Lazada, Qoo10, Redmart, SingPost and Ninja Van deliveries.

In a 2018 interview with Vulcan Post, Goldbell CEO Arthur Chua shared that he is spearheading their Future Mobility division, which focuses on innovation and technology in transport.

He also shared then that Goldbell has plans to electrify its fleet of vehicles. In 2019, Goldbell set up a robotics-enabled workshop that comes with sufficient power supply to charge vehicles.

Even as the company continues to push forward in its future mobility plans, Goldbell has stressed that its core leasing and distribution business is not left behind.

Vulcan Post has reached out to both BlueSG and Goldbell Group for comments.

Featured Image Credit: BlueSG

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