The Business Times
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Is Grab’s ride-hailing business future-proof?

    • 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

    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.

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