In a move aimed at strengthening its electric vehicle (EV) footprint, Singapore-based mobility platform Ryde Technologies has acquired a 40% stake in local EV firm Atoll. The strategic investment marks Ryde’s first major venture into the EV space, aligning with its broader goal of advancing sustainable urban transport in Singapore.
The announcement, made on June 18, underscores Ryde’s commitment to accelerating the nation’s green mobility goals. Atoll, known for its cutting-edge EV technologies and infrastructure solutions, will now work closely with Ryde to build a robust EV ecosystem that includes electric fleets and charging infrastructure.
As part of the partnership, Ryde plans to integrate Atoll’s electric vehicles into its ride-hailing and delivery services. This move is expected to reduce the carbon footprint of Ryde’s operations and support Singapore’s Green Plan 2030, which targets net-zero emissions in the long term.
Ryde’s CEO, Terence Zou, emphasized the importance of early investment in EV innovation to remain competitive in the rapidly evolving mobility landscape. He said the collaboration with Atoll is a “strategic milestone” that will accelerate Ryde’s transition to a fully electric fleet.
The collaboration also includes plans to jointly develop charging stations and battery-swapping technologies tailored to Singapore’s urban environment. The companies are exploring options to scale these solutions citywide, improving accessibility and reliability for EV users.
Ryde’s entry into the EV space through Atoll signals a growing trend among Southeast Asian mobility firms investing in clean energy solutions. The partnership aims not only to reduce emissions but also to create a seamless electric transport experience for commuters across Singapore.
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