Ryde Group Stock Surges 153% on EV Rental Acquisition, Trading Volume Ranks 310th

On June 18, 2025, Ryde Group (RYDE) experienced a significant surge in its stock price, rising by 153.23%. The company's trading volume reached 2.52 billion, making it the 310th highest in the market for the day.

Ryde Group's stock price soared following the company's strategic acquisition of a 40% stake in Atoll Discovery Pte Ltd, an electric vehicle (EV) rental firm based in Singapore. This investment is part of Ryde's broader green strategy, aimed at advancing sustainable mobility solutions in the region. Atoll operates a fleet of nearly 100 fully electric BYD vehicles and collaborates with key partners like Singapore Electric Vehicles Pte. This partnership aligns with Ryde's RydeGreen initiative, which aims to roll out 1,200 EVs by 2027. The initiative includes financial support, charging infrastructure, and incentives for drivers, furthering Ryde's commitment to sustainable transportation.

Ryde's CEO, Terence Zou, described the investment as a "prudent move with a clear upside" regarding revenue potential and market positioning. By acquiring a minority stake in Atoll, Ryde can deepen its integration into the EV rental market without taking on the risks of full ownership. This strategic move sets the stage for long-term expansion opportunities in Southeast Asia's green mobility space, reinforcing Ryde's leadership in Singapore's evolving mobility landscape.