SINGAPORE: The Land Transport Authority (LTA) has greenlit the application of local shared bicycle operator Anywheel to renew its license and expand its bicycle count by 5,000 units, bringing the total to 35,000.
The decision comes on the heels of Anywheel’s robust business growth in recent years, coupled with a surge in usage rates, revenue, and user base. Anywheel’s management cited a staggering uptick in demand, with user numbers surpassing the 1.3 million mark.
Consequently, the decision to augment the fleet size aims squarely at meeting this escalating demand.
Founder of Anywheel, Htay Aung, elaborating on the company’s strategic vision, emphasized a commitment to user-centric enhancements.
“Not only will we update our locks, we will also update our bicycles,” Mr Aung said, “This will mark our fifth generation upgrade in the past few years, geared towards enhancing the user experience.”
Key among the updates is the introduction of a fifth-generation smart lock, designed for seamless operation through software, while also being ingeniously concealed within the bicycle frame for added security.
In tandem with fleet expansion, concerted efforts to curb theft and vandalism have borne fruit, with reported incidents witnessing a significant decline. From a peak of 3,000 incidents in 2020, the number has halved, signaling a marked improvement in security measures.
The landscape of shared bicycle operators has recently undergone shifts, with SG Bike exiting the market. Anywheel, in a bid to ensure continuity for former SG Bike users, has announced automatic transfer of existing account balances. However, the potential overlap in user bases remains uncertain pending receipt of comprehensive data.
Undeterred by market dynamics, Anywheel remains steadfast in its preparedness to cater to a burgeoning user base. “Our entire hardware and software infrastructure is primed to accommodate millions of users,” assured Mr Aung, exuding confidence in the company’s scalability.
Meanwhile, fellow operator Hello Ride faces an impending license expiration in July next year. Industry insiders suggest a concerted focus on enhancing user experience and market monitoring to inform future adjustments.
A Hello Ride spokesperson affirmed the company’s commitment to service optimization, pledging continued refinement of offerings irrespective of market fluctuations. “We remain steadfast in our action plan, focusing on service enhancements such as diversified payment options,” the representative asserted.
As of May 1, the shared bicycle landscape in the country comprises 45,000 approved units, a notable decline from the peak of 200,000 in 2018. Nevertheless, with Anywheel’s expansion plans and industry players’ commitment to innovation, the future of shared mobility appears poised for continued growth and evolution.