SINGAPORE, SG / ACCESS Newswire / October 30, 2025 / Ryde Group Ltd (NYSE American:RYDE) (“Ryde” or the “Company”), a leading technology platform for mobility and quick commerce in Singapore, today announced that its wholly owned subsidiary, RCSR Pte Ltd, has entered into a Notes Subscription and Debenture Agreement with Singapore Electric Vehicles Pte Ltd (“SEV”), one of Singapore’s largest private EV fleet operators.
This strategic investment represents a key milestone in Ryde’s roadmap toward full electrification and reinforces its long-term commitment to building a cleaner, more efficient, and future-ready urban mobility ecosystem.
Strengthening Ryde’s Position in Singapore’s EV Revolution
Founded in 2022, SEV is a fast-growing innovator shaping Singapore’s EV landscape through a vertically integrated ecosystem of EV leasing, charging infrastructure, and smart mobility technologies. With a current fleet exceeding 200 electric vehicles, SEV has rapidly emerged as a leading private EV operator supporting both consumer and enterprise demand.
Through this investment, Ryde secures early access to a growing pool of electric vehicles, giving the Company a strategic advantage in driver acquisition, fleet optimization, and sustainability compliance as Singapore accelerates its nationwide transition to EVs by 2030.
Unlocking Long-Term Value and Sustainability
“This strategic partnership with SEV marks a pivotal step forward in Ryde’s journey toward sustainable growth,” said Terence Zou, Founder, Chairman and CEO of Ryde. “As EV adoption gathers pace in Singapore, our investment ensures that Ryde is not just participating in this transformation, we are shaping it. By expanding our access to EVs and charging infrastructure, we can lower operating costs for our drivers, enhance user experience, and unlock new avenues of long-term value creation for our shareholders.”
This investment aligns with Ryde’s broader sustainability strategy and positions the Company to capitalize on the rising demand for clean mobility, a market expected to grow substantially as governments and consumers shift toward green transportation alternatives.
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 0% commission, ensuring that more of every hard-earned dollar goes to drivers on our platform. For more information, please visit https://rydesharing.com/.
Safe Harbor Statement
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Contacts
For Media Relations:
Media Team
Ryde Group Ltd
Email: [email protected]
For Investor Relations:
Investor Relations Team
Ryde Group Ltd
Email: [email protected]
SOURCE: Ryde Group
