Ryde Group shares surge 10.38% after-hours after announcing strategic expansion into electric vehicle rental market with 400-vehicle fleet target.

Ryde Group surged 10.38% in after-hours trading following its announcement of a strategic expansion into the electric vehicle (EV) rental market, targeting a fleet of up to 400 EVs. The move, disclosed on December 10, 2025, aligns with the company’s sustainability goals and positions Ryde to capitalize on Singapore’s EV transition by 2030. This expansion follows a $14 million capital raise in December 2025, which the company plans to use for working capital and growth initiatives. Recent partnerships, including collaborations with Tencent Cloud and Kris+, as well as a strategic investment in Singapore Electric Vehicles, further underscore Ryde’s focus on innovation and market diversification. The after-hours rally reflects investor optimism about Ryde’s strategic momentum in sustainability and mobility technology.