Ryde Group Ltd ($RYDE) Advances Clean Mobility with Atoll Acquisition

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Ryde Group Ltd (RYDE) has acquired a strategic 40% shareholding in Atoll Discovery Pte Ltd.

This investment marks a significant milestone in Ryde Group Ltd (RYDE)’s commitment to sustainable urban transportation.

The acquisition positions the company to capitalize on the growing electric vehicle market in Singapore.

Atoll manages a fleet of nearly 100 fully electric BYD vehicles, aligning with Singapore’s push for a low-emission transport ecosystem.

Plans include deploying 60,000 EV charging points and phasing out internal combustion engine vehicles by 2040.

Terence Zou, Founder, Chairman, and CEO of Ryde Group Ltd (RYDE), described this acquisition as an exciting step towards a cleaner and smarter mobility future in Singapore.