Goldbell confirms acquisition of BlueSG; commits $70m to turn it around and expand business

Sources said BlueSG's fleet of about 650 subcompacts would cost $20 million to $25 million. PHOTO: ST FILE
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SINGAPORE - Transport and engineering group Goldbell said Friday (Feb 5) it expects its acquisition of electric car-sharing outfit BlueSG to be completed by August - a deal first reported by The Straits Times on Monday.

The home-grown group said it will invest $70 million over the next five years to help turn the loss-making car-sharing business around. Part of the sum will go into research and development.

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