Affordable fares and reliability among key focuses for Gra

Plans under way to improve lower-cost options, cut the time to find a ride

- Kok Yufeng

Keeping fares affordable, boosting driver income and improving service reliability will be key focuses for ride-hailing giant Grab in 2024, said its Singapore managing director Yee Wee Tang.

After largely tackling a driver supply crunch that drove fares to eye-watering levels in 2023, the Nasdaq-listed company has now found "a good balance", Mr Yee told The Straits Times in an interview.

"There are obviously segments who say the fare is too high, and some drivers will say it is too low...

I think we have found a good spot from our point of view," he said.

However, the 47-year-old, who has been helming Grab's operations in the city-state since 2019, acknowledged that fares are still high when there is rain or major events due to surge pricing.

Hence, the company has plans to improve its ride-sharing service GrabShare and carpooling service GrabHitch, which Mr Yee said are lower-cost options.

Grab is also trying to be smarter in how it deals with situations that lead to a big surge in fares. For instance, it is looking at possibly incorporating weather forecasts into its app to better direct drivers during downpours.

Mr Yee said efforts to lower fares in 2023 may have led to lower income for some drivers, so the aim in 2024 is to improve or at least protect their earnings.