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160 Robinson Rd, #14-04
Sit Rd, SBF Center, Singapore 068914

Singapore-based transport conglomerate, ComfortDelGro, is injecting $2M into Drive Lah – a peer-to-peer car-sharing enterprise initially launched in Singapore and subsequently expanded to Australia.

This significant investment from CDG comprises the majority of the $5M funding that Drive Lah successfully raised in the first half of 2023.

  • Expansion and Technological Advancements: The funds will be channeled towards Drive Lah’s growth in Australia and enhancing its proprietary connected car technology.
  • Australian Operations: Drive Lah’s Australian operation, Drivemate, began its journey in 2021 and has since grown to include approximately 500 vehicles and 5,000 active users.
  • Vehicle Supply: CDG plans to incrementally supply up to 3,000 vehicles to augment Drive Lah’s Australian fleet, commencing with Sydney and Melbourne in the near future.
  • Vehicle Ownership: The fleet of vehicles are owned by CDG and are not part of the investment. Rental revenue generated from these vehicles will be distributed between CDG and Drive Lah.
  • Rental Duration: Users can rent Drive Lah vehicles on an hourly, daily, weekly basis, or for longer durations.
  • Fleet Composition: The fleet primarily consists of vehicles aged between three and four years, which are considered more viable than newer, pricier models.
  • Singapore Operations: In Singapore, Drive Lah currently operates under an exemption from the Land Transport Authority, which allows them to pair private car owners with renters. This exemption has been extended four times since Drive Lah’s inception in 2019.
  • Insurance Coverage: All vehicles on the platform are insured under comprehensive and third-party motor insurance schemes, protecting the vehicle owners’ existing insurance policies.
  • Ride-Hailing Services: Some vehicles on Drive Lah’s platform can also be used for ride-hailing services like Grab and Gojek, offering a more versatile selection for renters.

This investment underscores CDG’s ongoing commitment to evolving and diversifying its automotive ventures, building on its announcement in July that it will be dealing in electric commercial vehicles manufactured by Chinese company, ChangAn KuaYue.

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