
GrabCab to launch in July with 40 new Toyota Prius taxis for a start
GrabCab vehicles will hit the road from July as Singapore's sixth and newest taxi operator launches its services, with 40 cabs in its fleet for a start.
Announcing this in a media briefing on June 4, GrabCab, a subsidiary of Grab's rental arm GrabRentals, said it will be launching its taxi services with 40 new fifth-generation electric hybrid Toyota Prius.
The company also said it will be adding more models to its fleet, including the electric hybrid Hyundai Kona from August and a fully electric vehicle "some time" in 2025.
GrabCab noted that it would like to meet the minimum fleet size requirement of 800 taxis for the street-hail operator licence before the third year of operations.
Mr Victor Sim, director of GrabRentals, said that as at June 4, the operator has received 700 to 800 registration applications from prospective drivers who expressed interest in renting a GrabCab vehicle.
Of these, about 400 to 500 eligible applicants have been selected for the first pool of drivers. Mr Sim said GrabCab had chosen applicants with a taxi driver's vocational licence (TDVL) and "good safety records" based on the driving demerit points they had accumulated.
Applicants without a TDVL will be directed to take a TDVL course at approved training centres, with the course fees fully funded by GrabCab.
Rental rates for a GrabCab vehicle start from $117 per day, and the first 100 drivers who sign up will get a rate of $112 per day.
Comparatively, the rental rates for a Toyota Prius under other taxi operators can range from around $110 per day for ComfortDelGro, around $109.80 per day for Prime Taxi and from $100 per day for Strides. Information on taxi rental fees for Trans-Cab was not available.
In terms of GrabCab fares for a four-seater standard vehicle, the flag-down fare will be $4.60, while the distance rates will be 26 cents for every 400m under 10km and 26 cents for every 350m after 10km. There is also a fee of 26 cents for every 45 seconds of waiting.
Fares for the Toyota Prius model under ComfortDelGro, Trans-Cab, Strides Premier and Prime Taxi are identical and cost $14.44 for a 12km ride, inclusive of 7½ minutes of waiting when a taxi is stationary or moving slowly.
Rental rates for a GrabCab vehicle can start from $117 per day, and the first 100 drivers who sign up will get a rate of $112 per day. ST PHOTO: JASON QUAH
And for GrabCab fares for a four-seater electric vehicle, the flag-down fare will be $4.80. The distance rates will be 26 cents for every 400m under 10km and 26 cents for every 350m after 10km, as well as a fee of 26 cents for every 45 seconds of waiting.
Mr Sim said GrabCab's passenger fare structure is pegged to what other operators are charging.
The taxi meter is fully integrated with the Grab platform, added Mr Sim, so its drivers can access ride-hail and street-hail jobs easily by scanning a QR code displayed on the meter with the Grab driver app.
Drivers can use the in-app relief driver matching service to chat with prospective partners located near them. Mr Sim said they may feel more assured in searching for a driving partner using this method, as GrabCab conducts a "pretty tight screening process" with regard to safety records.
He added that at present, drivers working for other taxi operators have to contact a call centre or access a desktop web portal to find a relief driver partner.
When asked about the advantage GrabCab has over other taxi operators, Mr Sim said the benefits it can offer drivers come from its technological hardware and strong partnerships with the industry, including charging point operators and fuel stations.
Drivers can use the in-app relief driver matching service to chat with prospective partners located near them. ST PHOTO: JASON QUAH
This is how GrabCab can offer its drivers fuel discounts and electric vehicle charging discounts of up to 25 per cent at some providers, he added.
"We will focus on the national supply (of drivers) problem," said Mr Sim. He noted that GrabCab is focusing on "reactivating" the relatively large pool of inactive drivers with TDVLs and reaching out to potential drivers who are on the fence about getting a TDVL.
In a statement issued to Strides Premier taxi drivers on May 30, Grab said there will be no change to the job allocation algorithm on its app, even with the introduction of GrabCab. It added that there will be no preferential treatment that allows trips to be assigned to GrabCab drivers instead of Strides Premier drivers.
When asked about this statement, Mr Sim said some Strides Premier drivers had concerns that GrabCab would affect how jobs were allocated to them. He clarified that GrabCab's aim is to "grow the pie" and "not to split the pie, or take some from (them)".

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
a day ago
- Business Times
Gold could test US$4,000 an ounce amid fiscal fears, escalating trade tensions: market watchers
[SINGAPORE] While gold has cemented itself above US$3,000 an ounce in 2025 amid trade uncertainty and US fiscal fears, a bullish forecast could see US$4,000 an ounce within a year's time, said market watchers. In Asian trading on Friday (Jun 6), spot gold was trading around US$3,371 an ounce as at 12.19 pm, up 29 per cent year to date. As the US' debt-to-GDP ratio has exceeded 120 per cent, a level unseen since World War II, investors are seeking a safe haven asset alternative to the greenback, noted Bank of Singapore's currency strategist Sim Moh Siong. He highlighted that the past glory of the US dollar as a safe currency has been eroded by the fiscal concerns, which will likely drive further decline in the greenback beyond the next six months. This is especially given the absence of any signal from Washington to address the fiscal deficit concern, on top of a sweeping budget bill that has now been presented to the US Senate. 'That 'big, beautiful bill' points to large fiscal deficits… that could continue to fuel concerns about fiscal sustainability, to the detriment of the US dollar,' said Sim, adding that gold's projection is tied to the US dollar's value in a historically inverse relationship. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Since last month, all three major credit ratings agencies have downgraded the US debt, which will pressure US dollar's value if foreign capital begins to question the reliability of US fiscal governance, wrote State Street Global Advisors in its gold mid-year outlook report released on Wednesday. 'The potential for trade wars has exacerbated these concerns,' the asset manager noted, adding that gold has stood out as a resilient store of value because it has no liability, does not depend on repayment, and does not require yield to justify its role in a portfolio. The asset manager added that the gold prices could test US$4,000 an ounce to US$5,000 an ounce over the next 12-24 months, while trading above US$3,000 an ounce for the rest of 2025. Uncertainty in the first half-year The early days of the US President Donal Trump administration in 2025 have corresponded with heightened US economic uncertainty, consumer anxiety and a weaker US dollar – which created a tailwind for gold, highlighted State Street Global Advisors. While gold prices have been climbing consistently, the market also experienced several dips during times of trade tension de-escalation and easing recession concerns, noted Bank of Singapore's Sim. These included a retreat from the all-time high US$3,500 an ounce in April. On the other hand, a worsening tariff situation would fuel the gold rush even more, pushing gold prices to touch US$4,000 within 2025, he added. This is despite a low likelihood after an amicable call between US President Trump and Chinese President Xi Jinping overnight that calmed investors' nerves. Firm gold prices in the second half-year Joshua Rotbart, managing director of Singapore-based bullion house J Rotbart & Co, expects gold to break its all-time high in the coming weeks, given the current geopolitical and fiscal uncertainties. 'However, we expect the pace of price appreciation to moderate, forecasting a 35 per cent year-over-year increase,' he noted. Such an increase represents a price trading around US$3,526 an ounce in 2025. State Street Global Advisors has increased the probability of a base case to 50 per cent, with gold to trade between US$3,100 and US$3,500 an ounce in 2025, on lingering risk sentiments on the back of greenback weakness and policy uncertainty, despite loosened tariffs. Bank of Singapore's Sim noted the bank's unchanged forecast on gold – which is to trade at US$3,500 per ounce in the coming six-month period and at US$3,900 within the next 12 months.
Business Times
a day ago
- Business Times
Indonesia sovereign wealth fund interested in Grab-GoTo deal: Bloomberg
[SINGAPORE] Indonesia's sovereign wealth fund Danantara is considering a stake in the Grab acquisition of GoTo for US$7 billion, reported Bloomberg. The sovereign wealth fund is said to be in preliminary discussions with GoTo to acquire a minority stake in the combined entity. The Indonesian government owning a slice of the Grab-GoTo entity could assuage concerns of the sale of a national tech champion to Singapore's Grab. Concerns over potential regulatory demands have slowed talks between Grab and GoTo. The Indonesian anti-trust agency said in May that it would look into potential risks and urging companies to ensure a monopoly is not created. The potential Grab and GoTo deal first surfaced in January, with Grab mulling an all-stock purchase at 100 rupiah a share, valuing GoTo at more than US$7 billion. Grab was said to be moving forward with the deal in March, with evaluation of GoTo's accounts, contracts and operations. Grab was also seeking US$2 billion in financing in March as part of the deal. GoTo has been retreating back to its home market in recent years, pulling out of Thailand and Vietnam after a cost-cutting drive. Singapore remains the only country outside of Indonesia where GoTo is still active.


AsiaOne
2 days ago
- AsiaOne
GrabCab to launch in July, fares in line with market rate, Singapore News
Commuters will be able to flag down GrabCab taxis from July, according to a media briefing held on Wednesday (June 4). GrabCab will start out with a fleet of 40 fifth-generation electric hybrid Toyota Prius cars, with more vehicles including the electric hybrid Hyundai Kona to be added as they expand their fleet to the minimum fleet size requirement of 800 in the future, reported The Straits Times. GrabCab joins the likes of Comfort, CityCab, Prime, Strides Premier and Trans-Cab to become Singapore's sixth taxi operator. "Aimed at improving overall ride availability, GrabCab complements existing point-to-point services by serving passengers at taxi stands, via street-hails and through app-based bookings," said Grab in a media factsheet. The taxis will be equipped with Grab's advanced technologies, including a mobile data terminal — typically known as a taxi meter — that is fully integrated with the Grab Driver app. Taxis will also be fitted with AI-powered dashcams to detect road safety risks and promote safe driving. GrabCab's rates are similar to those of existing operators. The flag down rate for a standard 4-seater will be $4.60, with every 400m under 10km costing $0.26. Subsequently, $0.26 will be charged for every 350m after the first 10km. "All location-based, time-based surcharges, and booking fees are aligned with prevailing industry rates," Grab said. GrabCab will offer different rental packages for new cars starting from $117 per day to cater to different driver preferences, compared to other operators which have starting prices between $115 and $135, reported CNA. GrabCar will offer drivers fuel discounts of up to 40 per cent at Caltex locations islandwide, in addition to charging discounts of up to 25 per cent at Charge+, SP, Volt and Shell. Grab also offers a range of benefits to its drivers including a safe driving bonus of $1,000 for every 12 months of being at-fault accident free and coverage under GrabBenefits 2.0, which provides access to education sponsorship and upskilling support. Up to 800 drivers have expressed interest in renting a GrabCab vehicle, of which around 400 to 500 eligible applicants have been selected for the first pool of drivers according to Victor Sim, director of GrabRentals. Only applicants with a taxi driver's vocational licence (TDVL) and 'good safety records' were chosen, and applicants without a TDVL will be directed to take a TDVL course at approved training centres. Eligible drivers will be sponsored up to $400 by GrabCab for their TDVL application. Speaking about competition with other taxi operators, Sim said that GrabCab aims to reactivate the relatively large pool of inactive drivers with TDVLs and "focus on the national supply (of drivers) problem", according to The Straits Times. [[nid:716292]]