Two bike-sharing firms receive licenses in Singapore

A new day, a new set of bikes.

Source: Unsplash.

A new day, a new set of bikes.

Singapore’s Land Transport Authority (LTA) announced on Wednesday that two bike-sharing operators—Anywheel and Moov Technology—have been granted in-principle approval licenses to offer dockless bike-sharing services in the city-state, according to Channel NewsAsia.

Moov Technology, the new bike-sharing operator on the block, was given the green light to maintain a 1,000-strong bicycle fleet under the sandbox license scheme. Homegrown bike-sharing startup Anywheel can now increase its fleet size to a maximum of 10,000 after been awarded a full license.

A third applicant, Ywise Circle, failed to meet the LTA’s requirements.

Before issuing the licenses, the LTA weighed the bike-sharing companies’ financial strength, track record, as well as proposals to handle issues like indiscriminate parking.

Big names in the bike-sharing sector—oBike, Ofo, and Mobike—have vacated Singapore, in some cases leading to police investigations and even legal repercussions.

Editor: Brady Ng