Latest news with #GACE9
Yahoo
3 days ago
- Business
- Yahoo
Why Is Ryde Stock Soaring Friday?
Ryde Group (NYSE:RYDE) stock gained on Friday after it announced that the NYSE American had accepted its plan to regain compliance with the exchange's continued listing standards. On May 21, 2025, NYSE American notified the Singapore-based mobility and quick commerce technology platform that it fell short of the NYSE American Company Guide, which applies to companies with less than $4 million in stockholders' equity and losses in three of the past four fiscal years. Ryde submitted its compliance plan before the June 20, 2025, August 5, 2025, NYSE American granted Ryde until November 21, 2026, to meet the requirements, with quarterly monitoring during the plan period. During this time, Ryde's Class A voting shares will remain under the "RYDE" symbol. The company said the notice does not affect its business, operations, financial position, liquidity, or SEC reporting obligations. Still, it cautioned that it cannot assure progress or guarantee it will regain compliance before the plan period ends. Ryde stock plunged over 30% year-to-date. However, it remains invested in strategic partnerships to unlock value. In July, Ryde announced entering Singapore's high-end electric mobility market with RydeLUXE 6, launched in partnership with Atoll Discovery after acquiring a 40% stake in the fleet operator. The deal gives Ryde immediate access to Atoll's GAC E9 luxury PHEV fleet and corporate client network, strengthening its premium ride-hailing segment. Ryde plans to route Atoll's corporate contracts through its app, while Atoll will expand its fleet to 100 units by the end of 2026. The venture is expected to contribute up to 10% of Ryde's revenue by 2027 and supports Singapore's Green Plan 2030. Price Action: RYDE shares are trading higher by 6.25% to $0.3400 premarket at last check Friday. Photo by Piotr Swat via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Why Is Ryde Stock Soaring Friday? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
11-07-2025
- Automotive
- Yahoo
Ryde's Strategic Expansion: Capturing Singapore's Ultra-Premium EV Market
New Driver-Partner Pool, Corporate Contracts and Bonus Incentives to Boost Ryde's Revenue Streams SINGAPORE / / July 11, 2025 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce in Singapore, is making a strategic move into Singapore's ultra-premium electric vehicle (EV) market with the planned launch of RydeLUXE 6, a premium electric vehicle and plug-in hybrid electric vehicle (PHEV) service targeting Singapore's rapidly expanding ultra-luxury transport market. The initiative is being rolled out in partnership with Atoll Discovery Pte Ltd ("Atoll"), following Ryde's recent acquisition of a 40% stake in the fleet operator. The partnership gives Ryde direct access to Atoll's GAC E9 PHEV fleet - and the high-value corporate clients that come with it. Strategic Outlook: Addressing Singapore $6.4 billion mobility opportunity Singapore's shared mobility sector is projected to reach US$6.4 billion by 2040, with a rapidly growing ultra-premium segment that remains largely underserved by traditional ride-hailing platforms. A key growth area within this space is the ultra-premium and luxury mobility segment, which includes chauffeur-driven electric vehicles and high-end concierge rides. This segment offers high-margin opportunities and is expected to drive a meaningful uplift to Ryde's topline - with the potential to contribute up to 10% of total revenue by 2027. This segment is fueled by: Over 333,000 millionaires (households with net worth ≥ US$1 million). Growing executive and hospitality transport demand. An increasing shift toward zero-emission vehicles under the Singapore Green Plan 2030. The GAC E9 is a luxury plug-in hybrid (PHEV) six-seater vehicle that delivers up to 136 km of pure electric driving range (CLTC) and a total combined range of over 1,000 km when factoring in its petrol engine. It supports DC fast charging, reaching 20-80% charge in approximately 30 minutes. Designed for quiet, comfortable executive transport, the GAC E9 will serve as the flagship model for the upcoming launch of RydeLUXE 6 fleet - catering to the needs of Singapore's growing population of high-net-worth individuals and corporate travellers. Strategic Fleet Expansion and Driver Integration Under the partnership, Atoll will double down its GAC E9 fleet by the end-2025, scaling to 100 units by the end of 2026. All GAC E9 driver-partners will join Ryde's RydeLUXE 6 network, immediately expanding premium service capacity. The GAC E9 is already operational across China and ASEAN markets for hotel transfers and VIP transport - reinforcing its relevance in Singapore's hospitality and executive segments. Enhanced Driver-Partner Value Proposition The upcoming launch of RydeLUXE 6 program is designed to unlock premium earning potential and greater income stability for Ryde's driver-partner community through a differentiated offering: Preferential leasing rates: Driver-partners leasing the GAC E9 will enjoy preferential rental rates at ~S$4,200/month. Bonus Incentives: Monthly bonus incentives of up to S$300, co-funded by Ryde and Atoll, will reward RydeLUXE 6 job completions Ryde will route bookings from Atoll's corporate transport contracts - including hotel-to-airport transfers and executive rides - through the Ryde app, offering consistent job flows and higher income potential. Leadership Vision and Market Positioning "Atoll's premium EV fleet and their corporate transport contracts unlock immediate monetisation opportunities for Ryde," said Terence Zou, Founder, Chairman and CEO of Ryde Group. "This is more than a partnership - it's an engine for sustained high-margin growth. RydeLUXE 6 with GAC E9 is the next frontier in our vision to own the premium sustainable mobility space in Singapore." Steven Kwek, Director of Atoll, added: "We have spent the last four years refining our operational model and cultivating corporate relationships. With Ryde, we now have the platform to scale our premium EV services while directly benefiting Singapore's luxury and executive travel market." Long-Term Vision and Regional Play The initiative aligns with Ryde's RydeGreen program, supporting Singapore's Green Plan 2030 goal to electrify 50% of the local vehicle population by 2030. Backed by its 0% driver commission model, Ryde's super mobility app is uniquely positioned to create value in the evolving EV economy. Partnering with Atoll and SEV, Ryde is building an integrated ecosystem of fleet leasing, booking, and infrastructure - laying the groundwork for scalable EV adoption and future regional expansion. As EV momentum grows across Southeast Asia, Ryde is positioned not only to lead in sustainable mobility at home, but also to replicate this high-margin, asset-light model in adjacent markets. 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 to learn more. Contacts: For Media Relations: Media TeamRyde Group LtdEmail: media@ For Investor Relations: Investor Relations Team Ryde Group Ltd Email: investor@ FORWARD-LOOKING STATEMENTS Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors . Any forward-looking statements contained in this press release speak only as of the date hereof, and Ryde Group Ltd specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. SOURCE: Ryde Group View the original press release on ACCESS Newswire Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
AsiaOne
24-05-2025
- Automotive
- AsiaOne
Maxus Mifa 7 review: A large Chinese electric MPV that bucks the luxury trend, Lifestyle News
One interesting trend that we've noted in the flood of Chinese carmakers entering our market over the past year is that many of these brands seem to like large, luxurious MPVs. We've seen the likes of the Denza D9, GAC E9, Zeekr 009 and Xpeng X9 all debuting here within the last few months, and the thing they all have in common (other than the obvious numerical connection) is that they are all huge people carriers that pile on the luxe. But what if you just wanted a simple, no-frills family MPV at a reasonable price? Well, that's where the Maxus Mifa 7 steps in to fill the gap. What is Maxus? Maxus is one of the many Chinese car brands now available in Singapore, but they have a relatively low-key presence as compared to the ones that arrived over the past year with much fanfare. One reason is that Maxus does have a rather limited and specialised product lineup. The brand was actually introduced in Singapore all the way back in 2015, but its initial focus was on commercial vehicles, so it didn't exactly make much of a dent among consumers here. [[nid:693141]] It was only until 2023 that Maxus launched its first passenger car here, the gargantuan Mifa 9 electric MPV. While initially popular thanks to its excellent value proposition, its massive size meant that it wasn't the most ideal fit for Singapore's roads. A year later, Maxus introduced the Mifa 7, a slightly smaller MPV that the brand hopes would suit the Singaporean car buyer's palate better. How does the Mifa 7 fare then? Although the Mifa 7 is supposed to be a 'smaller' MPV, it's still a pretty sizeable car. The car measures in at over 4.9 metres long and 1.8 metres wide, and while it isn't quite like the gigantic Mifa 9 which is over 5.2 metres long and 2 metres wide, the Mifa 7 is still a relatively big MPV nonetheless. That said, it does feel rather manageable, thanks to handy 360-degree panoramic camera that's really rather useful when you need to manoeuvre around tight carparks. The car itself is fairly straightforward to drive too, once you get used to its dimensions. The steering is light and easy, though uncommunicative, and the car doesn't feel too cumbersome as you go round corners, although of course you can still sense its bulk and heft. The ride quality too is just about on par with what you would expect from a car like this. It's generally comfortable over most roads, but it doesn't exactly sooth you with the kind of plush sophistication that you get from its more luxurious rivals. Power comes from the single electric motor that drives the front wheels, and produces 241hp and 350Nm of torque. It's just about adequate to get the car moving, with the usual instantaneous EV torque that makes acceleration a relative breeze, but again this is a fairly large and heavy car, so don't expect it to blaze any trails on the road. All in all, the Mifa 7's overall driving experience can probably be probably best described as capable, in that it gets the job done without too much fuss, but it doesn't stand out in any particular manner either. Is the Mifa 7 worth the money then? Well, it does have a few things going for it. The interior packaging is superb, with the 3,200mm long wheelbase translating into lots and lots of cabin space for passengers, even for those consigned to the third row of seats. Again, this is not meant to be an ultra-luxurious MPV, so most of the standout features are more functional in nature rather than being posh. The sliding doors, for example, have a fairly wide opening, and there are grab handles and a wide step for easy access to the cabin. Up front, you get a simple and minimalist dashboard, dominated by the dual 12.3-inch driver instrument panel and infotainment control touchscreen, combined to look like one giant panoramic display. The lack of physical controls can be a touch distracting, but there are a set of touch-sensitive switches on the centre console ahead of the wireless charging pad that operates simple functions like locking and unlocking the doors, and operating the rear sliding doors, for example. Probably the standout premium feature on the car is the 8-speaker JBL sound system, but our test car's Luxury trim also comes without a number of features that one would expect in a car like this, such as ventilated and memory seats. You can get those on the more expensive Premium trim, but that's gonna cost you an additional $5,000. Nevertheless, that's still a fairly reasonable price for what is a relatively competent family MPV. Sure, it does without much of the luxurious trappings of some of the other large Chinese MPVs on the market, but its price tag of $228,999 inclusive of COE (as of May 2025) for the Luxury trim does undercut those offerings significantly. And if you want to save even more, Maxus has recently introduced a version of the Mifa 7 with a detuned power output of 145hp, allowing it to qualify for a Category A COE. Go for those and you're looking at a starting price of $208,999 with COE, which is an absolute steal for such a spacious people carrier. If all you're looking for is an easy drive and lots of interior room, and can do without premium frills, then the Maxus Mifa 7 should be very much right up your alley. [[nid:699288]] No part of this article can be reproduced without permission from AsiaOne.
Straits Times
23-05-2025
- Automotive
- Straits Times
Car review: GAC E9 joins unexpected MPV revival
Luxe barge: The GAC E9 is bigger but not convincingly better than the Toyota Alphard. ST PHOTO: ARIFFIN JAMAR SINGAPORE – If the multi-purpose vehicle (MPV) were an animal, it would be the coelacanth – a prehistoric fish which was once thought to have gone the way of the dinosaur. As it turns out, it is very much alive. The MPV was likewise thought to be near extinct, having largely been replaced by a far more successful species, the SUV (sport utility vehicle). Join ST's Telegram channel and get the latest breaking news delivered to you.
