New local joint venture buys Uber-owned Lion City Rentals

Cars from Lion City Rental seen at Singapore Sports Hub's carpark, on Sept 25, 2018.
Cars from Lion City Rental seen at Singapore Sports Hub's carpark, on Sept 25, 2018.PHOTO: ST FILE

Two local motor companies have bought Uber-owned Lion City Rentals, marking the United States ride-hailing firm's complete exit from Singapore.

WayDrive Holdings, a new joint venture between vehicle trader Motorway Group and investment vehicle Toh Motors, signed on the dotted line last Friday evening to acquire 100 per cent of Lion City Rentals for an undisclosed sum.

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A version of this article appeared in the print edition of The Sunday Times on January 06, 2019, with the headline 'New local joint venture buys Uber-owned Lion City Rentals'. Print Edition | Subscribe