Ryde Group Initiates Into Electric Vehicle Rental Market In Singapore

(RTTNews) - Ryde Group Ltd. (RYDE), Wednesday announced a strategic initiative into the electric vehicle rental market, boosting the company's ambitions to capture the surging demand for eco-friendly transportation in Singapore.

As part of this move, the company will ensure full compliance with LTA guidelines and EV charging safety standards.

Additionally, Ryde has collaborated with Guan Chao Holdings Ltd and Singapore Electric Vehicles Pte Ltd to gain priority access to EV supply, fleet-level pricing advantages and flexible financing structures, ensuring a scalable and capital-efficient rollout.

In the pre-market hours, RYDE is trading at $0.4640 on the New York Stock Exchange American.