FastGo to bring ride-hailing service to Indonesia and Myanmar

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year. In a report from Việt Nam News, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar. The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds. According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place.
October 11, 2018 Read time: 2 mins

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year.

In a report from %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Vi&#7879;t Nam News Vietnam News article false https://vietnamnews.vn/economy/466916/fastgo-to-launch-in-indonesia-and-myanmar.html#qG7DKEry2AORe8kS.97 false false%>, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar.

The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds.

According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place. We already have strategic partners in these two markets to launch our services.”

In August, FastGo secured an undisclosed amount of funding from VinaCapital Ventures, which the firm then used to expand its operations into the coastal city of Đà Nẵng.

“The launch in Indonesia and Myanmar will not affect our expansion and development in Vietnam,” Tuất concludes.

Going forward, FastGo plans to deploy its service into the Philippines, Cambodia and Thailand.

UTC

Related Content

  • October 17, 2019
    Waymo may operate AVs in Phoenix ‘without safety driver’
    Ride-hailing company Waymo may be about to start operating fully-autonomous vehicles (AVs) to pick people up - without a safety driver. An email sent to users, which appeared on Reddit, said people in Phoenix, Arizona, who were matched with an AV will see a notification in the app that confirms the car will not have a trained driver. Users can tap a ‘What to Expect’ button within the app to learn more about the AVs. They can also communicate with a rider support agent at any part of the trip via the app o
    Read More
  • September 9, 2019
    Verra Mobility to provide toll services in France
    US-based Verra Mobility has partnered with motorway operator APRR to provide toll management services in France. David Roberts, CEO of Verra, says: "Initially, we will be focusing on providing toll services to our rental car company partners throughout France.” The partnership will allow Verra to expand to other countries to make travel in Europe more connected, Roberts adds. Vera intends to develop products for fleets that allow drivers to use electronic toll lanes without having to slow down or stop
    Read More
  • January 24, 2019
    Bosch to trial driverless tech on Australia’s high-speed rural roads
    Bosch has received an automated driving system (ADS) permit from the Victorian government to test automated vehicle technology on high-speed rural roads in the south-eastern Australian state. Bosch is to use a $2.3 million grant from the Connected and Automated Vehicle (C/AV) Trial Grants Programme to develop the technology, which will be tested later this year. The C/AV programme funded through the government’s $1.4 million Towards Zero Action Plan – an initiative which provides guidelines on how V
    Read More
  • November 27, 2018
    Hawaii wins more than $400,000 in EPA Grants
    The US Environmental Protection Agency (EPA) has awarded $411,578 in Diesel Emission Reduction Act (DERA) grants to Hawaii to help curb pollution from diesel vehicle sources. The EPA’s West Coast Collaborative administers the DERA programme. This partnership, which combines the EPA’s Pacific Southwest and Pacific Northwest Regions, utilises public and private funds in a bid to reduce emissions. The Hawaii Department of Health (HDOH) intends to use the grant to replace two diesel transit buses with batter
    Read More

Highlighted Content