RIDE-HAILING MARKET ANALYSIS

Key Developments

• On July 20, 2023, Grab Holdings Limited and Trans-cab Holdings Ltd acquired Trans-cab agreed that Grab Rentals Pte. Ltd. will buy all of Trans-cab's shares. Trans-cab Holdings Ltd is a taxi company in Singapore that is known for its good reputation and local presence. It has over 2,500 taxis and private-hire vehicles combined and will help Grab make more money.
• On August 16, 2022, Lyft, Inc. and Motional, a company known for driverless technology, launched a new robotaxi called the IONIQ 5 on the Lyft network in Las Vegas. This car drives itself and is designed for Lyft passengers to ride without a driver.
• In November 2023, Uber and the Transport Department of West Bengal, India, teamed up to start a new Uber Bus Shuttle Service in Kolkata from March 2024. This service aims to make public transport better and provide people more options for getting around easily. The shuttle will have 60 air-conditioned buses running on set routes that connect business areas with residential neighborhoods.
• In May 2023, Uber announced plans to bring in 25,000 electric cars with partners like Lithium, Everest, and Moove for India. It also want to introduce 10,000 electric scooters in Delhi by 2024 with Zypp Electric, another electric vehicle company. Uber is working with micro-lender SIDBI to give 10 billion INR (about USD 122.3 million) to help people buy clean cars and set up charging stations.