TribeCar launches Super Economy car rental

Car rental will cost as little as $0.50 per hour.

Car sharing platform TribeCar has announced a partnership with NTUC Income (Income) and CARRO to provide next generation smart city insurance for their Super Economy cars, making it possible to provide car-sharing hourly rentals for as little as $0.50 per hour for its Super Economy category.

The partnership will provide transparent motor insurance coverage through a usage-based proposition, first piloted in Singapore where motor insurance is no longer based on a fixed cost, but tied to the vehicle’s smart data such as mileage, location and timing consumption.

The joint initiative between Income and CARRO developed a usage-based motor InsurTech platform, combining telematics, insurance, and data analytics designed to enable car rental firms in Singapore to mass adopt usage-based programmes effectively.

“This adoption of usage-based insurance for our cars simply means transparency, lower prices and tremendous savings for our members. We’re also experimenting with new ways to deliver greater value for our members,” TribeCar co-founder Adrian Lee said.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

This is the last trading day before the ghost month.
Its revenue also rose 23.4% YoY to. US$2,262.4m in the same period. 
It is expected to be ready for launch in H2 2022.
Encouraged by vaccinations, more Singaporeans plan to travel in the next three months.
The amendments include higher penalties for erring property agencies or agents. 
The centre aims to spearhead Singapore’s maritime industry’s energy transition.
However, PropertyGuru’s data showed continued confidence amongst sellers.
The system enables employees to have test results in as fast as 60 seconds.
COVID-19 disruptions continue to cause delays in its projects.
Its underlying profit of $832.2m is still 17% below pre-COVID levels.
The airline saw a net loss of $1.12b in the same period last year.
All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.