ShareBikeSG becomes third bike-sharing firm to exit Singapore market

ShareBikeSG

ShareBikeSG – which launched its operations barely six months back – has become the third bike-sharing startup to exit the Singapore market due to stringent regulations, that will take effect from July 7.

ShareBikeSG, which started the service in December 2017, followed the fate of GBikes and oBike, which announced in June that they were stopping services in the country.

“We regret to inform the public that SharebikeSG will cease its bicycle-sharing operations from July 2018. However, point to point services will resume as per normal for event usage,” the bike-sharing startup said on its Facebook page Tuesday.

ShareBikeSG had a fleet of about 300 mountain bikes deployed in various areas, including Gardens by the Bay, East Coast Park, Pasir Ris, and Punggol.

Ethan Tan, the startup’s founder, told Singapore’s Today that the company’s dockless bicycle-sharing service has officially stopped on 1 July. However, the firm’s mobile application will continue to be operational to address users seeking refunds of their deposits.

Tan admits that it is “quite difficult” to meet the requirements under a new licensing regime to tackle indiscriminate parking.

Singapore in March passed new laws that compel operators of dockless shared bicycles, personal mobility devices, and power-assisted bicycles to be regulated under the new licensing scheme.

“We started with interest for mountain biking and are motivated to cultivate the enthusiasm and attitude towards fitness, sports, and wellness,” the operator said on its website. Now, ShareBikeSG is in the process of withdrawing its bicycles from the streets.

Last Week, Singapore-based oBike also ceased its operations in the city-state, citing regulatory difficulties in fulfilling the new requirements and guidelines by Singapore’s Land Transport Authority.

“oBike strongly believes and is committed to provide dock-less bicycle-sharing service that would benefit users’ commuting and Singapore’s transportation system, however it is with regret that the new regulation measures do not favor this belief of ours. This decision will not affect oBike’s operation in anyway in countries outside of Singapore,” said the startup.

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