Grab announces $10m investment for GrabCar service in Singapore

It covers end-to-end support for new and existing GrabCar drivers.

Ride-hailing platform Grab announced that it will be injecting $10m investment in its GrabCar private hire car segment for Singapore.

Grab said this complements the Land Transport Authority (LTA)'s new regulation with the Private Hire Car Driver Vocational License framework.

The investment will cover end-to-end support for new and existing GrabCar drivers including supporting them in obtaining their PDVL, including all related fees. The investment will also be used to co-contribute to drivers’ MediSave and strengthen Grab’s technology and operations to ensure it is compliant with requirements under the new Road Traffic Act.

Head of Grab Singapore Lim Kell Jay said local passenger demand for direct, on-demand car services continue to expand, prompting the additional investment. To recall, Grab has piloted and launched three new services in Singapore since last December with GrabShare, GrabCoach and GrabShuttle.

"We are making this $10 million investment to assist and train our GrabCar drivers. We believe the focus Grab places in helping our drivers succeed in earning a sustainable income and have peace of mind with better care for their medical needs will make driving a long-term sustainable option for more in Singapore,” Lim said.