Category: Automotive

Via Awarded Second Phase of Contract to Provide On-Demand Public Bus Technology in Singapore

Published August 28, 2018 3:34 pm, Via NYC
Via Awarded Second Phase of Contract to Provide On-Demand Public Bus Technology in Singapore
Via, the world’s leading developer of dynamic shared ride technology, has been awarded the second phase of a contract to provide on-demand public bus (ODPB) technology in Singapore by the Land Transport Authority (LTA). The six-month operational trial will leverage Via’s best-in-class ride matching and routing algorithm as well as the company’s extensive operational expertise to deliver more seamless and convenient bus journeys for commuters.

“Via’s powerful technology is seamlessly integrating with public transit infrastructure around the globe, redefining the way people move around their city,” said Daniel Ramot, co-founder and CEO of Via. “We’re delighted to join forces with the LTA to launch this groundbreaking on-demand bus service in Singapore, providing commuters with a convenient and seamless smart transportation experience.”

The second phase of the project will see the development of custom technology localized for Singapore’s public bus commuters and drivers, as well as the deployment of the sophisticated back-end tools required to monitor and optimize the service. The six-month operational trial will be launched with selected services with low travel demand during off-peak hours from December 2018, with Via-led ODPB service leveraging Via’s cutting-edge technology and deep experience with highly efficient vehicle utilization. A local public bus operator will operate the service.

Via has been tapped by cities and transit authorities in the United States and around the world to help re-engineer public transit from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Most recently, Via has launched on-demand transit services in Arlington, TX, Queenstown, New Zealand, Newcastle, Australia and West Sacramento, CA, with operations in Berlin, Germany and Los Angeles, CA in 2018.

About Via

Via is re-engineering public transit, from a regulated system of rigid routes and schedules to a fully dynamic, on-demand network. Via’s mobile app connects multiple passengers who are headed the same way, allowing riders to seamlessly share a premium vehicle. First launched in New York City in September 2013, the Via platform currently operates in the United States, and in Europe through its joint venture with Mercedes-Benz Vans, ViaVan. Via’s technology is also deployed worldwide through partner projects with public transportation agencies, private transit operators, taxi fleets, private companies, and universities, seamlessly integrating with public transit infrastructure to provide the most cutting edge on-demand mobility innovation.

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‘We don’t like the trade war,’ says one of China’s biggest carmakers

China is a big market for MPVs: Geely Automobile
11:07 PM ET Wed, 22 Aug 2018 | 02:03

Geely Automobile, the third-largest carmaker in China, has been largely shielded from the ongoing trade tensions between Beijing and Washington. But the company could still be hit in other ways if the dispute drags on, a top executive said.

Geely doesn't rely on imported parts to make its cars, not does it sell many of its products outside China, which helps the automaker avoid direct hits from the trade dispute, according to Daniel Li, Geely's vice chairman and chief financial officer.

“Geely doesn't have a lot of sales to other countries yet … we don't have any cars sold to the U.S.,” Li told CNBC's “Squawk Box” on Thursday. “Nevertheless, we don't like the trade war,” he added.

Li explained that the dispute between the world's two largest economies has generated a lot of uncertainty and is starting to affect consumers' willingness to spend.

His comments come a day after the company announced a 54 percent year-over-year jump in net profit for the first half of 2018. The net profit of 6.67 billion yuan ($971.3 million) is higher than the 6.55 billion yuan estimated by four analysts, according to Thomson Reuters data.

The company sold 766,630 vehicles during the first six months of the year, 44 percent higher than the same period in 2017 and outperforming the overall automobile sales in China, Li said.

Li said the company is on track to meet its full year sales target of 1.58 million units, and has plans to launch five new models later this year, including a multi-purpose vehicle (MPV).

“As you know, China has a new birth policy to encourage every family to have a second child instead of only one child,” Li said, explaining that families would soon require more seats in a car to accommodate grandparents, parents and two children. That opens up the opportunity to sell more MPVs, which typically have seven seats, Li said.

Despite the strong earnings report, Geely shares in Hong Kong were down about 1.3 percent on Thursday morning. But some analysts remain upbeat about the company's prospects.

“The outlook for Geely remains strong, in our view, led by a strong product pipeline … Geely is still our top sector pick,” analysts from Daiwa Capital Markets wrote in a Wednesday report after the company released its earnings report.

— Reuters contributed to this report.