SMRT International buys 4m euro stake in automated vehicle maker

Singapore

SMRT International Pte Ltd and United Technical Services (UTS) will both be acquiring stakes in a Netherlands- based company that designs and manufactures a range of automated vehicles.

In a filing to the Singapore Exchange (SGX) on Thursday, SMRT International said it is acquiring a 20 per cent stake worth 4 million euros (S$6 million) in 2 Getthere Holding BV, while UTS is increasing its holding to 11 per cent against the same valuation. In a joint announcement, the companies said: "These investments are a strategic step that will deepen 2getthere's technological capabilities as a leading market provider of automated vehicle systems. It will also enhance the delivery of current and new projects in the Middle East and Asia-Pacific."

Carel van Helsdingen, chief executive of 2getthere, said these investments "will support the realisation of the projects currently under contract and our continuous development and integration of new technologies into our solutions".

Goh Eng Kiat, managing director of SMRT International, noted that the company has worked with 2getthere since 2010.

He added that SMRT International sees growing demand for automated vehicles in Asia and looks forward to working together with 2getthere to further expand operations into international markets through the provision of consultancy services and operational expertise with transportation networks.

Said 2getthere Middle East and UTS chief operating officer Ziad Al Askari: "2getthere's solution is aligned with the push for greater autonomous transport within the Middle East in general, and specifically in the United Arab Emirates (UAE).

"With this investment, we can accelerate our contribution to Dubai's 2030 goal to make 25 per cent of all trips within the city driverless" - as recently announced by Mohammed Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai.

2getthere Middle East, a joint venture between UTS and 2getthere, signed a contract to supply a system based on the third-generation Group Rapid Transit (GRT) vehicle for an undisclosed project earlier this year.

This is 2getthere's second automated vehicle system in the Middle East after its Personal Rapid Transit (PRT) system in Masdar City, Abu Dhabi.

Meanwhile, 2getthere Asia Pte Ltd, established in Singapore in April, is a joint venture between SMRT Services Pte Ltd and 2getthere. It has been awarded its first consultancy project for a major Singapore client to assess the feasibility of implementing the GRT system within the client's premises.

2getthere Asia also remains on schedule to trial the first third-generation GRT vehicle in Singapore by the end of this year, the companies said.