SINGAPORE - From April 25, SMRT Taxis will be rolling out a fleet of 300 cars as part of its new venture Strides Transportation, its first foray into the private hire car business.

The wholly-owned subsidiary of SMRT Taxis will introduce its fleet of brand-new Toyota Altis sedans progressively over the next six months.

"Our venture into the private hire business is timely," said managing director for SMRT Roads Mr Benny Lim, adding that it represented a "natural progression" for SMRT Taxis in complementing their MRT and bus services.

Strides will also be entering a partnership with ride-booking platform Grab, which will allow commuters to book rides through their app.

The year-long partnership will allow up to 200 Strides drivers to receive performance-based cash incentives from Grab, in exchange for taking bookings through their app exclusively.

Mr Lim said Strides currently has around 50 drivers, and is currently recruiting more.

Current SMRT Taxi drivers will also be able to switch over to becoming drivers for Strides, with no restrictions.

Drivers will be able to rent a Toyota Altis directly from Strides for $79 a day, with incentives offered to safe drivers.

In contrast daily rental rates for SMRT Taxis range from $73.60 for the Hyundai Azera to $125 for a Toyota Prius.

A fleet of 27 Toyota Vellfire 7-seater vehicles and 2 Lexus ES Hybrids, with more vehicles to be introduced in the future, will also be offered as part of Strides limousine service aimed at corporate clients.