SINGAPORE (Dec 30): Ryde Group Ltd (NYSE:RYDE), a leading technology company in mobility and quick commerce, is revolutionizing Singapore’s transportation landscape with the RydeGreen Program. This comprehensive initiative accelerates electric vehicle (EV) adoption, empowers driver-partners, and reduces carbon emissions, underscoring Ryde’s commitment to sustainable urban mobility.
Ryde aims to introduce 1,200 additional EVs under the RydeGreen Program by 2027, with interim goals of 600 EVs by 2025 and 900 by 2026. Partnering with Singapore Electric Vehicles (SEV), the country’s largest EV leasing company, the program provides driver-partners with affordable EV leasing options and access to an expansive charging network, bolstered by plans to install 250 new charging stations by 2030.
Driver-partners leasing EVs through SEV will benefit from affordable rentals and a $1 million Green Bonus initiative. These incentives aim to enhance financial stability, operational efficiency, and retention among Ryde’s driver community.
The RydeGreen Program aligns with Singapore’s Green Plan 2030, particularly its Energy Reset and City in Nature pillars. By promoting cleaner energy use and reducing reliance on fossil fuels, Ryde supports the nation’s 2030 emissions reduction targets. Leveraging AI-powered routing algorithms, the program optimizes routes, further minimizing carbon emissions.
The RydeGreen Program not only contributes to environmental goals but also positions Ryde for long-term growth. By increasing EV adoption and enhancing revenue through more EV trip bookings, the initiative solidifies Ryde’s competitiveness in Singapore’s rapidly evolving transportation market.
This initiative marks a collaboration between two industry leaders, combining Ryde’s AI-driven mobility expertise with SEV’s EV leasing capabilities. Together, they aim to expand the EV fleet and accelerate the adoption of sustainable transportation solutions.
“Ryde’s commitment to sustainability goes beyond words—it’s about real impact on the ground,” said Terence Zou, Founder, Chairman, and CEO of Ryde Group. “Through RydeGreen and our partnership with SEV, we can lead Singapore’s transition to a sustainable and inclusive mobility ecosystem, aligned with the Singapore Green Plan 2030.”
Steven Kwek, COO of SEV, added, “We are thrilled to collaborate with Ryde as a strategic partner. Together, we will expand the EV fleet under the RydeGreen Program and align with Singapore’s sustainability goals for greener urban mobility.”
