Japan's leading auto leasing player Sumitomo Mitsui Auto Service acquires stake in car-sharing platform Tribecar in a push for greener mobility

Creating a sustainable future through comprehensive mobility services like car-sharing.

SINGAPORE and JAPAN, Jan. 8, 2025 /PRNewswire/ -- Sumitomo Mitsui Auto Service, Japan ("SMAS") and Tribecar, Singapore ("Tribecar") will become partners in the development of car-sharing services and technology in Singapore and in the region.

SMAS, with its extensive experience in managing over 1 million vehicles across Japan, Australia, India, Indonesia, and Thailand, offers a comprehensive suite of automotive solutions, including leasing, fleet management, risk management, cost optimization, and sustainable fleet development.

Tribecar is the only car-sharing service provider in Singapore to offer a comprehensive fleet of 1,500 vehicles, including passenger cars, commercial vans, and motorcycles. This diverse range of options caters to a wide spectrum of drivers, from families and new drivers to private-hire vehicle (PHV) and commercial operators.

By joining forces with Tribecar, SMAS gains access to cutting-edge car-sharing technologies and expertise. This collaboration will expedite the development of innovative personal mobility solutions across the region.

To further strengthen its commitment to sustainable mobility, SMAS has acquired a minority stake in Tribecar. This strategic move aligns with SMAS's broader goal of expanding its portfolio of environmentally friendly technology solutions.

"This partnership with SMAS marks a significant milestone for Tribecar. By joining forces, we're poised to shape the future of mobility, offering innovative solutions that cater to the evolving needs of our customers." said Adrian Lee, Co-Founder of Tribecar.

"We are excited to partner with Tribecar to accelerate the growth of car-sharing services in Singapore and the region. By combining SMAS's expertise in mobility solutions with Tribecar's innovative platform, we aim to shape the future of sustainable mobility." said Kei Sato, President & CEO of SMAS.

SMAS intends to trial the technology by Tribecar as soon as 2025 in one of its subsidiaries.

To commemorate this new partnership, customers of Tribecar can look forward to exciting new discounts and services to mark this occasion. Stay tuned to Tribecar's social media channels for more details.

The Tribecar app is available for download via the Google Play Store and the Apple App Store.

About Tribecar

Tribecar is Singapore's most comprehensive car-sharing platform, offering a diverse fleet of over 1,500 vehicles – from passenger cars to commercial vans and motorcycles – conveniently located island-wide. Founded in 2016, Tribecar provides a more affordable and better peace of mind alternative to car ownership and car-sharing in Singapore.

Key Benefits:

• Flexible Rentals: Rent by the hour, day, or week to suit your needs.
• All-Inclusive Pricing: Enjoy transparent pricing that includes insurance, COE, road tax, and maintenance.
• 24/7 Bookings & Pick-Up: Book and access your car anytime, anywhere through our user-friendly app.
• Wide Range of Vehicles: Choose the perfect vehicle for your needs, whether it's a family outing, a commercial delivery, or just a quick errand.
• Compliance & Safety: All vehicles comply with LTA regulations and come equipped with comprehensive insurance, including coverage for private-hire, food delivery, and leisure use. P-plate drivers from the age of 18 years old are also welcome.

Download the Tribecar app today from the Google Play Store or Apple App Store. Visit our website (https://www.tribecar.com/) to learn more.

About SMAS

As a leading company in the auto leasing industry, our goal is to be "Mobility Platformer aiming for Sustainable Society", in order to contribute to the development of automobile society and global sustainability. We are committed to creating a sustainable future through "comprehensive mobility services" that meet all kinds of needs related to the movement of people and goods.

SOURCE Tribecar Pte. Ltd.