Carro, which previously operated the MyTukar brand in Malaysia, is now reportedly preparing to list the company on the US stock exchange as early as 2026. Through this, Carro is targeting a company valuation of over $3 billion.
Founded in 2015, Carro offers vehicle-focused services, including selling used vehicles, in addition to offering a number of services that are compatible with it. One of their closest competitors in the region is Carsome.
Carro is based in Singapore, and operates in a number of countries, including Malaysia, Indonesia and Thailand. In Malaysia, Carro also sells electric vehicles, including being the official distributor of Zeekr. In addition, they have also been granted an MV15 license for vehicle inspection purposes.
The funds obtained through the company's listing are expected to be used to continue strengthening their position in the automotive arena, and also expand their company. Carro has not issued any comments regarding this at this time.