Ryde's Strategic Expansion: Capturing Singapore's Ultra-Premium EV Market
Ryde Group (NYSE:RYDE) announced its strategic expansion into Singapore's ultra-premium EV market through the launch of RydeLUXE 6, following its acquisition of a 40% stake in Atoll Discovery. The partnership provides access to Atoll's GAC E9 PHEV fleet and high-value corporate clients.
The initiative targets Singapore's $6.4 billion mobility market opportunity, with premium services expected to contribute 10% of total revenue by 2027. The fleet expansion plan includes scaling to 100 GAC E9 units by end-2026. Driver-partners will benefit from preferential leasing rates of ~S$4,200/month and monthly bonus incentives up to S$300.
This strategic move aligns with Singapore's Green Plan 2030 and positions Ryde to capitalize on the growing luxury transport demand driven by 333,000+ millionaire households in Singapore.
Ryde Group (NYSE:RYDE) ha annunciato la sua espansione strategica nel mercato ultra-premium dei veicoli elettrici a Singapore con il lancio di RydeLUXE 6, a seguito dell'acquisizione di una quota del 40% in Atoll Discovery. La partnership consente l'accesso alla flotta GAC E9 PHEV di Atoll e a clienti aziendali di alto valore.
L'iniziativa mira all'opportunità di mercato della mobilità a Singapore del valore di 6,4 miliardi di dollari, con servizi premium che si prevede contribuiranno per il 10% del fatturato totale entro il 2027. Il piano di espansione della flotta prevede di raggiungere 100 unità GAC E9 entro la fine del 2026. I conducenti partner beneficeranno di tariffe di leasing preferenziali di circa 4.200 dollari di Singapore al mese e incentivi mensili fino a 300 dollari di Singapore.
Questa mossa strategica è in linea con il Green Plan 2030 di Singapore e posiziona Ryde per sfruttare la crescente domanda di trasporti di lusso guidata da oltre 333.000 famiglie milionarie a Singapore.
Ryde Group (NYSE:RYDE) anunció su expansión estratégica en el mercado ultra premium de vehículos eléctricos en Singapur con el lanzamiento de RydeLUXE 6, tras la adquisición de una participación del 40% en Atoll Discovery. La alianza brinda acceso a la flota GAC E9 PHEV de Atoll y a clientes corporativos de alto valor.
La iniciativa apunta a la oportunidad del mercado de movilidad en Singapur valorada en 6.4 mil millones de dólares, con servicios premium que se espera representen el 10% de los ingresos totales para 2027. El plan de expansión de la flota incluye alcanzar 100 unidades GAC E9 para finales de 2026. Los conductores asociados recibirán tarifas preferenciales de arrendamiento de aproximadamente S$4,200 al mes y bonos mensuales de hasta S$300.
Esta estrategia está alineada con el Green Plan 2030 de Singapur y posiciona a Ryde para aprovechar la creciente demanda de transporte de lujo impulsada por más de 333,000 hogares millonarios en Singapur.
Ryde Group (NYSE:RYDE)는 Atoll Discovery의 40% 지분 인수에 이어 RydeLUXE 6 출시를 통해 싱가포르의 초고급 전기차 시장으로 전략적 확장을 발표했습니다. 이 파트너십은 Atoll의 GAC E9 PHEV 차량과 고가치 기업 고객에 대한 접근을 제공합니다.
이번 사업은 싱가포르의 64억 달러 규모 모빌리티 시장 기회를 목표로 하며, 프리미엄 서비스는 2027년까지 총 매출의 10% 기여가 예상됩니다. 차량 확대 계획은 2026년 말까지 100대의 GAC E9 차량으로 규모를 늘리는 것을 포함합니다. 운전자 파트너는 월 약 S$4,200의 우대 리스 요금과 최대 S$300의 월별 보너스 인센티브를 받게 됩니다.
이 전략적 움직임은 싱가포르의 그린 플랜 2030과 일치하며, 33만 3천 가구 이상의 백만장자 가구가 주도하는 고급 교통 수요 증가에 Ryde가 대응할 수 있도록 합니다.
Ryde Group (NYSE:RYDE) a annoncé son expansion stratégique sur le marché ultra-premium des véhicules électriques à Singapour avec le lancement de RydeLUXE 6, suite à l'acquisition d'une participation de 40% dans Atoll Discovery. Ce partenariat offre un accès à la flotte GAC E9 PHEV d'Atoll ainsi qu'à des clients corporatifs de grande valeur.
L'initiative vise l'opportunité du marché de la mobilité à Singapour estimée à 6,4 milliards de dollars, avec des services premium attendus pour représenter 10% du chiffre d'affaires total d'ici 2027. Le plan d'expansion de la flotte prévoit d'atteindre 100 unités GAC E9 d'ici fin 2026. Les conducteurs partenaires bénéficieront de tarifs de location préférentiels d'environ 4 200 S$ par mois et d'incitations mensuelles pouvant atteindre 300 S$.
Cette démarche stratégique s'aligne sur le Green Plan 2030 de Singapour et positionne Ryde pour tirer parti de la demande croissante de transport de luxe portée par plus de 333 000 foyers millionnaires à Singapour.
Ryde Group (NYSE:RYDE) gab seine strategische Expansion in den ultra-premium Elektrofahrzeugmarkt Singapurs mit der Einführung von RydeLUXE 6 bekannt, nach dem Erwerb eines 40% Anteils an Atoll Discovery. Die Partnerschaft ermöglicht den Zugang zur GAC E9 PHEV Flotte von Atoll und zu hochwertigen Unternehmenskunden.
Die Initiative zielt auf die 6,4 Milliarden US-Dollar Mobilitätsmarktchance in Singapur ab, wobei erwartet wird, dass Premium-Dienstleistungen bis 2027 10% des Gesamtumsatzes ausmachen. Der Flottenerweiterungsplan sieht vor, bis Ende 2026 100 GAC E9 Einheiten zu erreichen. Fahrerpartner profitieren von bevorzugten Leasingraten von etwa 4.200 S$ pro Monat und monatlichen Bonusanreizen von bis zu 300 S$.
Dieser strategische Schritt steht im Einklang mit Singapurs Green Plan 2030 und positioniert Ryde, um von der wachsenden Nachfrage nach Luxusverkehr, angetrieben von über 333.000 Millionärshaushalten in Singapur, zu profitieren.
- None.
- High operational costs with GAC E9 leasing rates at S$4,200/month per vehicle
- Significant capital investment required for fleet expansion
- Dependence on luxury market segment could be vulnerable to economic downturns
Insights
Ryde's entry into Singapore's ultra-premium EV market strengthens revenue streams through strategic partnership and addresses a growing high-margin segment.
Ryde's expansion into Singapore's ultra-premium EV market represents a calculated move to capture high-margin opportunities in an underserved segment. By acquiring a 40% stake in Atoll Discovery, Ryde gains immediate access to both a premium PHEV fleet and established corporate clients - effectively bypassing the typical market entry barriers of fleet acquisition and client development.
The partnership targets Singapore's $6.4 billion shared mobility market with a focus on the luxury segment, populated by over 333,000 millionaire households. This demographic concentration creates an unusually dense market of potential users with high willingness-to-pay, making Singapore an ideal testbed for premium mobility services.
The GAC E9 PHEV selection is particularly strategic, offering 136 km of electric range with a 1,000 km total range - addressing both environmental considerations and the practical limitations of pure EVs. This hybrid approach enables Ryde to market an eco-friendly premium service while avoiding the operational constraints of battery-only vehicles.
The company's revenue diversification strategy is evident in the projected contribution of up to 10% of total revenue by 2027 from this segment. The driver incentive structure with preferential leasing rates (~S$4,200/month) and bonus incentives (up to S$300 monthly) is designed to maintain service quality while ensuring driver retention - critical factors in premium service delivery.
By routing Atoll's existing corporate contracts through the Ryde platform, the company creates immediate cashflow while building the user base necessary to attract additional premium customers. This circumvents the chicken-and-egg problem typical in platform businesses where service availability and customer demand must grow simultaneously.
The initiative aligns with Singapore's Green Plan 2030, positioning Ryde favorably with both environmentally-conscious consumers and regulatory frameworks. The company's 0% driver commission model provides a competitive advantage in driver recruitment and retention - essential factors in premium service quality maintenance.
New Driver-Partner Pool, Corporate Contracts and Bonus Incentives to Boost Ryde's Revenue Streams
SINGAPORE / ACCESS Newswire / July 11, 2025 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce in Singapore, is making a strategic move into Singapore's ultra-premium electric vehicle (EV) market with the planned launch of RydeLUXE 6, a premium electric vehicle and plug-in hybrid electric vehicle (PHEV) service targeting Singapore's rapidly expanding ultra-luxury transport market.
The initiative is being rolled out in partnership with Atoll Discovery Pte Ltd ("Atoll"), following Ryde's recent acquisition of a
Strategic Outlook: Addressing Singapore
Singapore's shared mobility sector is projected to reach US
A key growth area within this space is the ultra-premium and luxury mobility segment, which includes chauffeur-driven electric vehicles and high-end concierge rides. This segment offers high-margin opportunities and is expected to drive a meaningful uplift to Ryde's topline - with the potential to contribute up to
This segment is fueled by:
Over 333,000 millionaires (households with net worth ≥ US
$1 million ).Growing executive and hospitality transport demand.
An increasing shift toward zero-emission vehicles under the Singapore Green Plan 2030.
The GAC E9 is a luxury plug-in hybrid (PHEV) six-seater vehicle that delivers up to 136 km of pure electric driving range (CLTC) and a total combined range of over 1,000 km when factoring in its petrol engine. It supports DC fast charging, reaching 20
Strategic Fleet Expansion and Driver Integration
Under the partnership, Atoll will double down its GAC E9 fleet by the end-2025, scaling to 100 units by the end of 2026. All GAC E9 driver-partners will join Ryde's RydeLUXE 6 network, immediately expanding premium service capacity.
The GAC E9 is already operational across China and ASEAN markets for hotel transfers and VIP transport - reinforcing its relevance in Singapore's hospitality and executive segments.
Enhanced Driver-Partner Value Proposition
The upcoming launch of RydeLUXE 6 program is designed to unlock premium earning potential and greater income stability for Ryde's driver-partner community through a differentiated offering:
Preferential leasing rates: Driver-partners leasing the GAC E9 will enjoy preferential rental rates at ~S
$4,200 /month.Bonus Incentives: Monthly bonus incentives of up to S
$300 , co-funded by Ryde and Atoll, will reward RydeLUXE 6 job completions
Ryde will route bookings from Atoll's corporate transport contracts - including hotel-to-airport transfers and executive rides - through the Ryde app, offering consistent job flows and higher income potential.
Leadership Vision and Market Positioning
"Atoll's premium EV fleet and their corporate transport contracts unlock immediate monetisation opportunities for Ryde," said Terence Zou, Founder, Chairman and CEO of Ryde Group. "This is more than a partnership - it's an engine for sustained high-margin growth. RydeLUXE 6 with GAC E9 is the next frontier in our vision to own the premium sustainable mobility space in Singapore."
Steven Kwek, Director of Atoll, added: "We have spent the last four years refining our operational model and cultivating corporate relationships. With Ryde, we now have the platform to scale our premium EV services while directly benefiting Singapore's luxury and executive travel market."
Long-Term Vision and Regional Play
The initiative aligns with Ryde's RydeGreen program, supporting Singapore's Green Plan 2030 goal to electrify
Backed by its
As EV momentum grows across Southeast Asia, Ryde is positioned not only to lead in sustainable mobility at home, but also to replicate this high-margin, asset-light model in adjacent markets.
About Ryde Group Ltd
Ryde, a homegrown super mobility app founded in Singapore, is the world's FIRST on-demand carpooling app since 2014! As a publicly listed company on the NYSE American, we are reimagining the way people and goods move around. We offer a full suite of services, including carpooling, private hire, taxi, and delivery, but what truly sets us apart is our commitment to empower our private-hire and taxi partners. We take
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FORWARD-LOOKING STATEMENTS
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Ryde Group
View the original press release on ACCESS Newswire
FAQ
What is Ryde's stake in Atoll Discovery and what does it mean for the company?
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What are the key benefits for Ryde drivers under the RydeLUXE 6 program?
How many GAC E9 vehicles will be in Ryde's fleet by 2026?
What is the target market size for Ryde's premium EV service in Singapore?
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