Strides Taxi And Premier Taxis To Merge And Form Singapore's Second Largest Taxi Service Provider

Strides Taxi and Premier Taxis will merge to form Singapore's second-largest taxi operator, SMRT announced in a news release on Thursday (Apr 13).

Strides Premier, a new joint venture company, will be formed to hold the merged business. The merger will go into effect on May 1.

According to data as of February 2023, it will have a fleet of approximately 2,500 taxis, surpassing the second-largest operator Trans-Cab, which has approximately 2,170 taxis. ComfortDelGro has the largest taxi fleet in Singapore, with approximately 8,700 taxis.

"As demand for taxis and private hire cars returns to pre-pandemic levels," SMRT said, "the merger will help to safeguard the long-term interests of drivers and passengers while also improving efficiency."

"Strides Premier will offer a full suite of technical expertise and workshop capabilities to service the expanded fleet."

According to SMRT, the combined fleet will provide hirers with a wider range of vehicles and a diverse portfolio of corporate clients to supplement their income in addition to their usual street and ride-hailing jobs.

"Through this merger, we will be able to leverage technology, economies of scale, and synergies to provide passengers and hirers with more innovative and cost-effective solutions." "We hope to be a better alternative transportation provider in the market," the company said.

Strides Holdings, the parent company of Strides Taxi and Strides Automotive and a wholly owned subsidiary of SMRT, will own a majority stake in Strides Premier. The remaining stake will be held jointly by Premier Corporation and BS Investors.

Strides Automotive Services and Premier Automotive Services will also be merged.