BlueSG relaunches as Flexar, pivots to asset-light model

[SINGAPORE] Point-to-point car-sharing service BlueSG’s rebrand as Flexar officially launched on Monday (May 4) with a strategy that abandons its pure-electric, fully owned fleet model in a bid to reduce capital intensity.

Following a “strategic pause” of the original BlueSG service, the newly formed entity is shifting to an “asset-light” approach, it said. Flexar will now rely on third-party fleet management providers to supply its vehicles in a push to lower costs and speed up deployment.

In a departure from BlueSG’s foundational identity, Flexar’s fleet now incorporates internal combustion engine vehicles alongside electric options. The company cited the need for operational flexibility to expand beyond the constraints of Singapore’s electric vehicle charging infrastructure.

The service debuted with a modest footprint of about 200 vehicles across 100 stations, though the company said it is progressing towards an islandwide network. The platform reported nearly 10,000 user registrations during a two-week beta phase.

To stimulate user acquisition, Flexar has eliminated membership fees and security deposits, relying instead on Singpass for onboarding. Fares are structured on a per-minute block pricing model.

However, the company is actively shielding its margins from commodity volatility by passing fuel costs directly to consumers. Users will face a temporary fuel surcharge that will be reviewed weekly based on global oil market conditions.

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Fon Supannakul, CEO of Flexar, noted the difficulties of the operator’s prior iteration, and said that the redesign was shaped by a “head start in understanding the complexities and challenges of shared mobility”.