Ryde Marks a Transformative Milestone in Singapore’s Mobility Landscape

Ryde Group Ltd (NYSE:RYDE) ("Ryde" or the "Company"), a technology company at the forefront of mobility and quick commerce in Singapore, has announced the renewal of its licenses for a further three years. The renewal covers both the full ride-hail service operator license and the carpool service operator license, underscoring Ryde’s unwavering commitment to delivering exceptional and sustainable mobility solutions for Singapore.

Since its establishment in 2014, Ryde has been dedicated to creating a platform that prioritizes both drivers and riders. The Company focuses on empowering driver-partners, uplifting communities, and enhancing commuter experiences.

Ryde’s innovative initiatives, including its 0% commission policy, 7 driver commitments, and 1-day leave scheme, have been instrumental in ensuring higher earnings and promoting a healthier work-life balance for its driver-partners. These efforts directly support thousands of livelihoods, providing meaningful opportunities for drivers across Singapore.

For riders, Ryde continually improves its app by introducing features such as an enhanced user interface, seamless booking processes, and AI-driven personalized trip recommendations. Leveraging advanced algorithms, the platform ensures faster ride-matching, shorter waiting times, and a more intuitive navigation experience.

The Ryde+ subscription model, Singapore’s leading ride-hailing subscription service, offers riders significant savings through cashback rewards, faster bookings, and exclusive perks. This innovative service addresses the evolving needs of riders, ensuring affordability and fostering rider loyalty.

In alignment with Singapore’s sustainability objectives, Ryde is committed to reducing carbon emissions and alleviating traffic congestion. The Company’s initiatives include expanding its fleet of electric vehicles (EVs), contributing to a smarter and greener urban ecosystem. These efforts form part of Ryde’s long-term vision to support sustainable urban mobility in Singapore.

As Singapore’s transportation landscape continues to evolve, Ryde harnesses technology and AI-driven algorithms to create seamless commuting experiences. With a focus on maintaining affordable and transparent fare structures, Ryde fosters inclusivity and promotes healthy competition within the industry.

Subashini Thanakodi, Associate Director of Operations, remarked, “We are deeply honored to have achieved this milestone, which reflects Ryde’s commitment to creating sustainable and inclusive mobility solutions for everyone. As we look ahead, we will remain focused on empowering our driver-partners, supporting our communities, and building a smarter, greener transportation ecosystem.”