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Singapore’s Land Transport Authority (LTA) has granted a Street-Hail Operator Licence to GrabCab, a subsidiary of Grab Holdings (NASDAQ: GRAB), making it the sixth licensed taxi operator in the country. This strategic milestone is expected to fuel growth in GRAB’s Mobility segment and improve transport options in Singapore.
Analysts at Macquarie welcomed the news, highlighting that this move adds “incremental growth” to GRAB’s core business. The licence enables GrabCab to legally operate street-hail taxi services, marking a significant step forward in addressing the long-standing imbalance between driver demand and vehicle supply.
GRAB’s push into the taxi sector is not new. In 2023, the company attempted to acquire TransCab, one of Singapore’s largest taxi firms, although the deal did not go through. Securing this licence is a pivot from that failed acquisition, allowing GRAB to grow its fleet through a more direct approach.
Under the licensing terms, GRAB must expand its taxi fleet to at least 800 vehicles over the next three years. This requirement supports the platform’s efforts to enhance ride availability, particularly during peak hours, while strengthening its footprint in Singapore’s competitive transportation landscape.
This move also reflects GRAB’s broader strategy to optimize fleet utilization by tapping into licensed taxis alongside private-hire vehicles. By integrating more traditional taxi services into its platform, GRAB aims to boost operational efficiency and meet rising consumer demand.
With the taxi licence in hand, GrabCab is set to play a larger role in shaping Singapore’s mobility ecosystem, reinforcing GRAB’s long-term commitment to innovation and sustainable growth in Southeast Asia’s ride-hailing market.
