Ryde Signs Memorandum of Understanding with VinaTaxi to Explore Strategic Mobility Expansion in Vietnam

SINGAPORE, SG / ACCESS Newswire / April 29, 2026 / Ryde Group Ltd (NYSE American:RYDE) (“Ryde” or the “Company”), a leading technology platform for mobility and quick commerce in Singapore, today announced its it has signed a Memorandum of Understanding (“MOU“) with VinaTaxi, a licensed taxi operator in Vietnam, to explore potential strategic collaboration opportunities in Vietnam’s fast-growing mobility and electric transport market.

This milestone marks an important step in Ryde’s regional expansion strategy and supports its continued efforts to evaluate scalable growth opportunities across Southeast Asia’s emerging mobility ecosystems.

Exploring Entry into Vietnam’s High-Growth Mobility Market

Under the MOU, Ryde and VinaTaxi will explore a potential collaboration framework to modernise and enhance mobility services in Vietnam. The discussions will focus on leveraging Ryde’s proprietary ride-hailing technology and VinaTaxi’s established operational fleet to assess opportunities across both four-wheel and two-wheel mobility segments.

The areas of exploration include the potential deployment of Ryde’s platform within VinaTaxi’s existing taxi fleet, the development of an electric motorcycle ride-hailing ecosystem tailored to Vietnam’s unique urban transport landscape, and the phased introduction of electric vehicles to support long-term sustainability objectives.

Vietnam: A High-Potential and Structurally Attractive Mobility Market

Vietnam represents one of Southeast Asia’s most dynamic mobility markets, characterised by rapid urbanisation, strong reliance on motorcycle-based transportation, and increasing demand for digital mobility solutions. The government’s ongoing focus on electrification and sustainable transport further reinforces the long-term potential of the sector.

Through this collaboration, Ryde aims to assess the viability of its platform in a high-volume, fast-growing market while gaining early insight into consumer behaviour, regulatory dynamics, and operational scalability in Vietnam.

Strategic Optionality Through Asset-Light Exploration

The MOU supports Ryde’s broader strategy of combining platform technology with selective market exploration to identify scalable growth opportunities across Asia. By working with an established local operator such as VinaTaxi, Ryde is able to evaluate market entry pathways in a capital-efficient and low-risk manner, while preserving full flexibility for future strategic decisions.

“Vietnam represents a highly attractive and fast-evolving mobility market, particularly in the areas of motorcycle and electric mobility,” said a spokesperson for Ryde. “This MOU with VinaTaxi allows us to explore potential opportunities in a structured and disciplined manner, leveraging our technology platform while working with a strong local operator. Importantly, this is an exploratory step, and no capital commitment is required at this stage as we assess the market and potential long-term fit.”

Advancing Ryde’s Regional Growth Strategy

This collaboration reflects Ryde’s ongoing strategy to evaluate and expand into selected high-growth Asian markets through partnerships that combine technology, local operational expertise, and scalable mobility infrastructure. By engaging with established operators in key regional markets, Ryde aims to strengthen its platform network, enhance technology deployment opportunities, and build long-term optionality for sustainable regional growth.

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and recognised as the world’s FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE American, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.

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Contacts

For Media Relations:

Media Team
Ryde Group Ltd
Email: media@rydesharing.com

For Investor Relations:

Investor Relations Team
Ryde Group Ltd
Email: investor@rydesharing.com

SOURCE: Ryde Group

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