HDT pulls plug on electric-taxi business in Singapore on 'debilitating' Covid-19 hit
It will focus on developing car-hailing, electric-bus services, electric-truck sales, as well as the leasing of EVs
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Singapore
HDT Singapore Holding, whose electric taxis had plied the city-state's roads for two years, is powering down the business for good and instead focusing on other green transportation solutions.
This was because the company has suffered a "prolonged, debilitating impact" as the coronavirus outbreak disrupted the taxi industry, said HDT, which is affiliated to Chinese EV giant BYD Co. As pandemic-related restrictions led to a sustained work-from-home trend and limited travel, the company had been "wrestling with the slowing growth" of the business since the start of 2020, it said on Friday.
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