As part of a growth expansion strategy, Singapore’s homegrown carpooling app Ryde will launch its new private-hire car service RydeX. The company has already started accepting sign-ups of drivers via the Ryde app.
The entry of RydeX in the private-hire car service assumes significance as Grab has recently taken over Uber’s Southeast Asian business, including operations in Singapore.
Presently, Ryde has a combined fleet of over 55,000 drivers (both private cars and taxis) which provides a sustainable alternative for the daily commute of over 300,000 passenger members in Singapore.
RydeX, through a press release, said that the driver’s commission rate will be lowered to 10 per cent, adding the savings will be passed on to commuters in the form of lower fares and to drivers in the form of higher earnings.
Terence Zou, Founder and CEO of Ryde Technologies, said, “Offering private-hire car services would complete our mobility suite to serve our users better. Over the past two years, we have been growing our base of both users and drivers, and RydeX will provide Singaporeans an effective alternative to book a private hire car.”
“We have been receiving positive feedback to launch RydeX as a new private-hire service, and we see a surge of new driver sign-ups these past few days. Through RydeX, we hope to serve all the people in Singapore, by providing commuters a cheaper alternative to get around and drivers a way to make a decent living. Ultimately, our mission is to make a positive social impact in people’s lives,” added Zou.