Sumitomo Mitsui Auto Service, Japan (“SMAS”) and Tribecar, Singapore (“Tribecar”) will become partners in the development of car-sharing services and technology in Singapore and in the region.
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SMAS, with its extensive experience in managing over 1 million vehicles across Japan, Australia, India, Indonesia, and Thailand, offers a comprehensive suite of automotive solutions, including leasing, fleet management, risk management, cost optimization, and sustainable fleet development.
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Tribecar is the only car-sharing service provider in Singapore to offer a comprehensive fleet of 1,500 vehicles, including passenger cars, commercial vans, and motorcycles. This diverse range of options caters to a wide spectrum of drivers, from families and new drivers to private-hire vehicle (PHV) and commercial operators.
By joining forces with Tribecar, SMAS gains access to cutting-edge car-sharing technologies and expertise. This collaboration will expedite the development of innovative personal mobility solutions across the region.
To further strengthen its commitment to sustainable mobility, SMAS has acquired a minority stake in Tribecar. This strategic move aligns with SMAS’s broader goal of expanding its portfolio of environmentally friendly technology solutions.
“This partnership with SMAS marks a significant milestone for Tribecar. By joining forces, we’re poised to shape the future of mobility, offering innovative solutions that cater to the evolving needs of our customers.” said Adrian Lee, Co-Founder of Tribecar.
“We are excited to partner with Tribecar to accelerate the growth of car-sharing services in Singapore and the region. By combining SMAS’s expertise in mobility solutions with Tribecar’s innovative platform, we aim to shape the future of sustainable mobility.” said Kei Sato, President & CEO of SMAS.
Tribecar is the second-largest car sharing and rental car platform operator in the Singapore market, operating more than 1,500 vehicles, including passenger cars, commercial vans, and motorcycles. In Singapore, due to the government’s total volume control on the number of domestic vehicles and the inflated cost of vehicle purchases, the market for vehicle ownership and auto leasing is relatively small. As a result, there is a mobility shift from ownership to utilization, such as car sharing and rentals. Through this strategic investment toward Tribecar (*), SMAS aims to acquire business know-how and expand the platform both within and outside of Singapore.
This investment in Singapore marks the fifth overseas expansion for SMAS, following Australia, Thailand, India, and Indonesia, further accelerating the company’s global business expansion. As a “Mobility Platformer for Sustainable Society,” SMAS will continue to provide new value, contributing to the development of a car society and the realization of a sustainable society.
SMAS intends to trial the technology by Tribecar as soon as 2025 in one of its subsidiaries. To commemorate this new partnership, customers of Tribecar can look forward to exciting new discounts and services to mark this occasion. Stay tuned to Tribecar’s social media channels for more details. The Tribecar app is available for download via the Google Play Store and the Apple App Store.
About Tribecar
Tribecar is Singapore’s most comprehensive car-sharing platform, offering a diverse fleet of over 1,500 vehicles – from passenger cars to commercial vans and motorcycles – conveniently located island-wide. Founded in 2016, Tribecar provides a more affordable and better peace of mind alternative to car ownership and car-sharing in Singapore.
About Sumitomo Mitsui Auto Service
As a leading company in the auto leasing industry, our goal is to be “Mobility Platformer aiming for Sustainable Society”, in order to contribute to the development of automobile society and global sustainability. We are committed to creating a sustainable future through “comprehensive mobility services” that meet all kinds of needs related to the movement of people and goods.
