The Business Times
business-time-50
SUBSCRIBERS

Is Grab’s ride-hailing business future-proof?

google-preferred-sourceAdd BT as a preferred source
    • The ride-hailing sector in South-east Asia is predicted to reach a market size of US$10.5 billion by 2028.
    • The ride-hailing sector in South-east Asia is predicted to reach a market size of US$10.5 billion by 2028. PHOTO: BT FILE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Samreen Ahmad

    Published Wed, Apr 17, 2024 · 09:09 AM

    SINGAPORE-BASED Grab undoubtedly leads South-east Asia’s ride-hailing sector, commanding around 70 per cent market share.

    However, competitors are not relenting. There has been a surge of activity in the sector including funding rounds, public listings, and announcements of expansion.

    In Vietnam, homegrown players Be Group and GSM are putting pressure on Grab as favoured local alternatives. Be Group raised US$30 million earlier this year, while GSM – led by Vingroup chairman and billionaire Pham Nhat Vuong – is intensifying its focus on expanding its electric vehicle (EV) fleet.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    GrabTech in Asia

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Sales have rebounded in March after the year-end lull and seasonal Chinese New Year pullback.

    Near sell-out launches in March boost developer sales to 1,300 units after four slow months

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More