Ryde to Venture into Electric Vehicle Rental Sector
Expansion into EV Rentals: Ryde Group is entering the electric vehicle rental market by partnering with Guan Chao Holdings and Singapore Electric Vehicles Pte Ltd to acquire a fleet of up to 400 EVs in the next six months.
Strategic Advantages: This partnership will provide Ryde with priority access to EV supply, fleet-level pricing benefits, and flexible financing options, enhancing its operational capabilities.
Regulatory Compliance: Ryde is committed to adhering to LTA guidelines and EV charging safety standards as it develops its EV rental services, ensuring regulatory and safety compliance.
Impact on Business Model: The move into EV rentals is expected to diversify Ryde's revenue streams, improve rider and driver experiences, and strengthen its position in the clean-transport ecosystem.
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Ryde's AI-Driven Logistics Initiative Aims for Quicker Deliveries and Eco-Friendly Transportation
Partnership Expansion: Ryde Group Ltd and GO-GENIE are enhancing their collaboration to improve last-mile delivery efficiency and sustainability, aiming for better earnings for gig workers and faster deliveries.
Technology Integration: The partnership builds on a successful pilot by integrating real-time emissions tracking and AI-assisted route optimization, which helps reduce idle time and fuel consumption for drivers.
Customer Benefits: Customers will experience quicker pickups and reliable deliveries, especially during peak demand, due to a larger pool of couriers and improved logistics.
Sustainability Focus: GO-GENIE's carbon tracking supports Ryde's commitment to monitoring emissions in real-time, aligning with Singapore's goals for sustainable urban mobility.
Ryde Capitalizes on Singapore's Electric Vehicle Surge with New Rental Service
Expansion into EV Rentals: Ryde Group Ltd is entering the electric vehicle rental market in Singapore to meet the rising demand for eco-friendly transportation and enhance its mobility platform.
Partnerships for Vehicle Access: The company is collaborating with Guan Chao Holdings Ltd and Singapore Electric Vehicles Pte Ltd to secure access to up to 400 EVs within six months, ensuring priority supply and flexible financing.
Commitment to Sustainability: Ryde's CEO emphasized that this move reflects the company's dedication to sustainable growth, aiming to reduce costs for drivers and create long-term shareholder value.
Driver Training Initiatives: Ryde is also focusing on training programs to help driver-partners expand their career opportunities beyond the platform, including upskilling in facilities and security.
