Ryde Group Ltd. plans to expand into Singapore’s electric-vehicle rental market, adding EVs to its mobility platform. The company said it will comply with Land Transport Authority guidelines and EV charging safety standards as it scales the new business.
EV Rental Expansion
Ryde’s move into EV rentals is intended to build on its driver base and fleet-management processes. The company said the program will diversify revenue, support a cleaner transport ecosystem, and create new partnership opportunities across its platform.
“This expansion into the EV rental market underscores our focus on sustainable growth,” said Terence Zou, founder, chairman and CEO of Ryde, in an Oct. 30 news release. He added that wider EV access is expected to help lower operating costs for drivers and provide a more predictable cost per kilometer.
Partnerships and Fleet Plan
To support the rollout, Ryde has partnered with Guan Chao Holdings Ltd. and Singapore Electric Vehicles Pte. Ltd. under a call-option agreement to secure up to 400 EVs over the next six months. The agreement provides priority vehicle supply, fleet pricing, and flexible financing structures for a phased, capital-efficient deployment.
Ryde said the EV rental program aligns with its broader sustainability and product roadmap and positions the company to participate in growing EV demand as Singapore’s charging and vehicle infrastructure continues to develop.
