Hyundai Motor to supply 2,000 Ioniq hybrids to Singapore

Hyundai Motor Group Executive Vice Chairman Chung Euisun, left, and ComfortDelGro CEO Yang Ban Seng, center, pose for a photo in front of ComfortDelGro headquarters in Singapore, June 19. / Courtesy of Hyundai Motor

By Kwak Yeon-soo

Hyundai Motor has signed a contract to provide 2,000 Ioniq hybrid cars to a Singaporean taxi operator, the company said Monday.

The deal signed with ComfortDelGro, a Singaporean transportation company, is Hyundai's latest deal to supply its vehicles as taxis in Singapore.

Established in 1970, ComfortDelGro controls about 60 percent of Singapore's 20,000 taxis. It also operates in other countries, including China, the U.K. and Vietnam.

The contract states that the automaker will supply the first batch of 1,500 Ioniq hybrid passenger cars by the end of this year and an additional 500 by the first half of 2020.

Last year, Hyundai sold 1,200 Ioniq hybrid cars as taxis to Singapore's cab giant.

Hyundai's Executive Vice Chairman Chung Euisun met with ComfortDelGro executives in Singapore on June 19 to talk about ways of cooperation and the future direction of their partnership.

The automaker plans to strengthen its leadership in producing eco-friendly vehicles in Singapore, as the city state adopted a vehicle emissions scheme to curb emission levels.

The company said ComfortDelGro has decided to sign an additional supply contract because it was satisfied with Ioniq's energy efficiency and driving performance.

Starting with the taxi version of Hyundai's Sonata sedan, the automaker has been providing vehicles for ComfortDelGro since 2007. So far, the automaker has sold about 26,000 vehicles in Singapore and is the largest vehicle provider in the city state's taxi industry, with a 56 percent market share.

“As it is home to Asia's finance and logistics hub and attracts 15 million visitors annually, Singapore is a huge market for us,” a Hyundai Motor official said.

“By providing Ioniq hybrid vehicles as taxis to Singapore, we hope to solidify our position as an electric vehicle provider.”

Hyundai also invested $200 million in Grab, the leading ride-hailing service provider in Southeast Asia, in November 2018.

Since then, the automaker has been seeking to expand its presence in Southeast Asia's mobility market by boosting the sales of its electric vehicles.