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HDT retreats from its Singapore taxi business
HDT Singapore Holdings will shut its unique electric taxi business in Singapore, due in part to losses associated with the pandemic.
HDT has made an application to the Land Transport Authority to exit the taxi industry, which has been accepted, according to a joint press release with the National Taxi Association.
“From the onset of COVID-19 in January 2020 and up till now, HDT Taxi has been wrestling with the slowing growth of its business due to the pandemic measures such as sustained periods of people working from home and restricted travel," the release stated.
"The challenges posed by COVID-19 are unprecedented."
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