Under the Radar: GetGo’s CEO on changing aspirations for car ownership on its business strategy

The Evening Runway with Hongbin Jeong and Chua Tian Tian

Carsharing is on deck today as we speak to Singapore’s largest carsharing service, where users can register, book a car and start driving in the span of minutes.

You might have guessed it by now – yes we’re indeed speaking to GetGo. Founded in 2020 in the middle of the Covid-19 pandemic, GetGo has expanded quickly in recent years to 1,600 locations across Singapore.

The company now boasts a fleet of 3,000 cars, over 300,000 users and over 3 million drives completed.

But why are we speaking to GetGo you might ask? Well, the carsharing business is an interesting one to look at because of rising car ownership costs in Singapore. For one thing, a survey by The Straits Times out in 2022 revealed that the high costs of buying a car are putting a dent on car ownership aspirations. So how far has that opened up a market gap for GetGo to fill?

Meanwhile, GetGo had in July 2024 teamed up with electric vehicle charging firm Charge+ to introduce the carsharing company’s electric vehicles and Charge+’s EV charging infrastructure together in condominium projects.

GetGo and Charge+ had said that they aim to provide 100 condominiums with such bundled products by 2025.But what were the reasons behind the move, and how much money will the partnership bring to GetGo given the increased adoption of EVs among the younger population?

Speaking of condominium projects, GetGo also said then that it would roll out a new feature in Q4 to provide condominium developers secured access to its carsharing vehicles – but again, what is the significance of the move to GetGo as a company?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Ting Feng Toh, CEO and Co-founder, GetGo.

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