Hyundai Motor's Ioniq Hybrid will run in downtown Singapore as taxicabs. Hyundai Motor landed a big order for the Ioniq Hybrid from Singapore where Hyundai Motor is dominating the taxi market.
Hyundai Motor said that the automaker signed an agreement to supply Ioniq Hybrid cabs with Singapore's largest transportation company, ComfortDelGro at COEX Intercontinental Hotel in Seoul on July 26. By year’s end, 500 Ioniq Hybrid taxis will be supplied to ComfortDelGro and depending on additional consultations, the automakerwill additionally supply up to 500 units in the first half of next year. Including 200 units ordered in April, Hyundai Motor will be able to supply up to 1200 units.
This will mark the first time that the Ioniq Hybrid will be supplied to Singapore as taxicabs. ComfortDelGro is Singapore's largest transportation company which operates 59 percent of all taxis cruisingin Singapore. The Ioniq Hybrid with its world-class fuel economy and stable driving performance proved to be a good choice as a new taxi model representing Singapore according to ComfortDelGro.
This large supply deal augurs well for Hyundai Motor in the Singaporean taxi market. Since 2007, Hyundai Motor has been selling itsNF Sonata, the Sonata and the i40 as taxis to the ComfortDelGro. The Korean carmaker sold 24,000 units in total for12 years since entering the Singapore taxi market.
Hyundai's market share in the Singapore taxi market tops 50 percent. Currently, there are about 21,000 taxis operating in Singapore, 12,000 of which were supplied by Hyundai Motor. Hyundai Motor’s share in the Singapore taxi market ranked first for eight consecutive years from 2010 to last year.
The Ioniq Hybrid to be supplied to Singapore is Korea’s first green car. A US Environmental Protection Agency (EPA) survey placed the Ioniq Hybrid first in fuel efficiency as the eco-friendly car recorded58 MPG (miles per gallon) among vehicles powered byinternal combustion engines and hybrid vehicles sold in the US market. This is equivalent to about 24.9 km per liter in the Korean fuel economy calculation system.