Sime Darby forms mobility special taskforce to explore new automotive opportunities
16 Nov 2021
Sime Darby Bhd has established a mobility special task force to explore new opportunities in the automotive sector with an investment of approximately RM42 million to date in mobility players.
Its group chief executive officer, Datuk Jeffri Salim Davidson said Sime Darby’s thrust into mobility was its “engine two” to Sime Darby Motors’ “engine one”, which has been continued to fortify to its full potential.
Engine one refers to the group’s existing motors business which it is continuing to strengthen, while engine two relates to its future-focused strategies to capitalise on new mobility trends.
“We have developed a mobility strategy as part of our efforts to revolutionise and transform our motors division to be ready for the future of automotive,” he said in a statement today.
Jeffri said Sime Darby’s recent investment of RM42 million in car-sharing company SOCAR and online used car platform CARRO demonstrates its ambitions to expand in mobility.
“Since 2018, Sime Darby has been in partnership with SOCAR in the new car and used car sales, fleet management and mobile after-sales service, and has been working with CARRO since 2020 in the used car ecosystem and vehicle leasing in Malaysia and Singapore,” he said.
He also said these investments were critical in growing the business beyond the traditional dealerships and in embracing alternative ownership models, as well as to capitalise on the strong growth potential in the region’s car-sharing industry.
“Our investments in these start-ups are strategic and symbiotic, and they come after we have spent the last year or two in collaboration on several fronts to see how we can leverage on each other’s strengths,” he added.