Ryde Rolls Out Luxury EV Service In Singapore

Ryde Group Ltd. (AMEX:RYDE) is making a strategic entry into Singapore’s rapidly expanding high-end electric mobility sector with the forthcoming launch of RydeLUXE 6.

This new ultra-premium electric vehicle and plug-in hybrid electric vehicle (PHEV) service is designed to cater specifically to the executive and luxury transportation market in Singapore, underscoring Ryde’s commitment to expanding its premium offerings and contributing to the nation’s green initiatives.

The new initiative is being deployed in collaboration with Atoll Discovery, following Ryde’s recent acquisition of a 40% stake in the fleet operator.

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Through this partnership, Ryde will gain immediate access to Atoll’s GAC E9 fleet and a network of corporate clientele, boosting its premium offerings.

The venture aligns with Singapore’s growing appetite for high-margin, chauffeur-driven electric mobility solutions. The combined strategy is expected to contribute up to 10% of Ryde’s revenue by 2027.

RydeLUXE 6 will feature the GAC E9, a six-seater luxury PHEV known for its 136 km electric range and total hybrid range exceeding 1,000 km.

With DC fast-charging capability and executive-level amenities, the vehicle will anchor Ryde’s premium fleet and cater to VIP transport and corporate travel across Singapore’s hospitality sector.

Atoll plans to expand its GAC E9 fleet to 100 units by end-2026, with all associated driver-partners onboarding to Ryde’s premium platform.

This integration provides Ryde with a stronger presence in the upscale ride-hailing segment while offering consistent job availability to its driver network.

Driver-partners operating under RydeLUXE 6 will benefit from preferential rental rates at 4,200 Singapore dollars per month ($3,108) and bonuses of up to 300 Singapore dollars per month for completed rides.

Additionally, Ryde will route Atoll’s existing corporate contracts through its app, creating a reliable flow of high-paying jobs.

This initiative supports Ryde’s RydeGreen efforts and Singapore’s Green Plan 2030, which targets 50% vehicle electrification by the end of the decade.

Price Action: RYDE shares are trading lower by 8.57% to $0.3383 at last check Friday.

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