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Goldbell Completes Acquisition of BlueSG, to Invest S$40 Million by 2023
Goldbell Completes Acquisition of BlueSG, to Invest S$40 Million by 2023
Singapore’s Goldbell Group completed its acquisition of electric car-sharing firm BlueSG and is set to invest S$40 million to grow the company over the next two years, the vehicle leasing firm announced in October.
Image: REUTERS
The amount makes up 60 per cent of the S$70 million it previously said it will invest in the company over five years.
BlueSG - which currently has about 650 shared electric vehicles (EVs) in Singapore - was previously a subsidiary of French conglomerate Bollore Group.
It began operations in 2017, in partnership with the Land Transport Authority and the Economic Development Board, as part of efforts to make Singapore’s transport system more sustainable.
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