Ryde Unveils 7 Driver Commitments to Build a Fairer Platform

Rhea-AI Summary

Ryde Group (NYSE American: RYDE) has unveiled its 7 Driver Commitments initiative to enhance the experience of its driver-partners. The commitments include:

1. Fair Earnings: Transparent pricing and 0% commission for private hire and taxi drivers.
2. Safety First: Comprehensive safety features.
3. Professional Development: Continuous training and resources.
4. Dedicated Support: Multiple support channels.
5. Job Flexibility: Empowering drivers to choose jobs and set hours.
6. Active Engagement: Listening to driver feedback and recognizing contributions.
7. Sustainability: Promoting eco-friendly practices.

Terence Zou, Founder, Chairman, and CEO of Ryde Group, emphasized the company's dedication to ensuring a first-class driving experience with cutting-edge tech features, supportive policies, and fair earnings.

Positive

• Introduction of 0% commission initiative for private hire and taxi drivers
• Provision of multiple support channels for driver-partners
• Implementation of comprehensive safety features for drivers
• Offering of continuous training and professional development resources
• Promotion of eco-friendly practices through carpooling services and AI-driven route optimization

Negative

• None.

SINGAPORE--(BUSINESS WIRE)-- Ryde Group Ltd (NYSE American: RYDE) ("Ryde" or "the Company"), a leading technology platform for mobility and quick commerce, today introduced its 7 Driver Commitments initiative, designed to elevate the experience of its driver-partners.

Ryde introduces 7 Driver Commitments including fair earnings, job flexibility, dedicated support, safety first and more to build a fairer platform. (PHOTO: RYDE)

These commitments, driven by our belief that driver-partners are the backbone of our business, outline Ryde’s guiding principles and initiatives designed to empower and support its valued driver community.

0% Commission, Building A Fairer Platform:

Ryde's 7 Driver Commitments include:

• Fair Earnings: Prioritising transparent pricing with more earning opportunities, including a groundbreaking 0% commission initiative for private hire and taxi drivers. Providing the lowest fees in the market.
• Safety First: Ensuring driver safety with comprehensive features like call masking, live trip tracking, 24/7 towing assistance, and emergency support.
• Professional Development: Providing resources and continuous training to help driver-partners upskill through in-house training, driver quizzes, and onboarding sessions. Provision of regular updates on app features, policies and evolving regulatory requirements.
• Dedicated Support: Offering multiple support channels for driver-partners, including RydeHELP, an in-app support feature, real-time chat support, and an AI bot to provide comprehensive responses to drivers round the clock.
• Job Flexibility: Empowering drivers to choose jobs, set working hours, and work on their own terms for both part-time and full time drivers. Introducing 1-day leave for our most active drivers to improve driver well-being and reduce driver fatigue.
• Active Engagement: Listening actively to driver feedback and recognises contributions through online channels, food giveaway like #MakanWithRyde Giveaway, and focused group feedback sessions. Offering education awards like Ryde Education Merit Awards (REMA) for driver-partner’s children.
• Sustainability: Promoting eco-friendly practices through carpooling services (RydePOOL), introducing multi-stop features, and implementing AI-driven delivery route optimisation to reduce our carbon footprint. Contributing to the community through various efforts like RydeEmpowers which aligns with the United Nations Sustainable Development Goals; promote good health & well-being and reduce inequalities.

Driver Testimonials:

Ryde’s commitment to driver well-being resonates with its partners. Mr. Tang, driving for Ryde since 2021, shared, “Ryde’s competitive fees and excellent support make it my go-to platform.” Ms. Siti, a pioneering full-time female Private Hire Car Driver's Vocational Licence (PDVL) driver, appreciates Ryde’s “job flexibility that allows her to balance work and family.”

Building a Fairer Platform:

Terence Zou, Founder, Chairman, and CEO of Ryde Group, stated, “Our drivers are key to our success, and we strive to ensure a first-class driving experience with cutting-edge tech features, supportive policies, and fair earnings. These 7 Driver Commitments reflect our dedication to transparency, trust, and fairness with our driver-partners.”

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and the world’s FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE American, FSE, and XSTU stock exchanges, Ryde is reimagining the way people and goods move. The company offers a full suite of services, including carpooling, private hire, taxi, and delivery. What truly sets Ryde apart is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers keep more of their hard-earned money. For more information, please visit Ryde's Website.

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, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717206027/en/

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

Skyline Corporate Communications Group, LLC

Email: info@skylineccg.com

Source: Ryde Group

FAQ

What are Ryde's 7 Driver Commitments announced on July 17, 2024?

Ryde's 7 Driver Commitments include Fair Earnings, Safety First, Professional Development, Dedicated Support, Job Flexibility, Active Engagement, and Sustainability. These commitments aim to enhance the experience of Ryde's driver-partners and build a fairer platform.

How does Ryde (RYDE) plan to ensure fair earnings for its drivers?

Ryde plans to ensure fair earnings by prioritizing transparent pricing, offering more earning opportunities, and introducing a groundbreaking 0% commission initiative for private hire and taxi drivers. The company also claims to provide the lowest fees in the market.

What safety measures has Ryde (RYDE) implemented for its drivers?

Ryde has implemented comprehensive safety features for its drivers, including call masking, live trip tracking, 24/7 towing assistance, and emergency support to ensure driver safety.

How does Ryde (RYDE) support professional development for its drivers?

Ryde supports professional development by providing resources and continuous training to help driver-partners upskill. This includes in-house training, driver quizzes, onboarding sessions, and regular updates on app features, policies, and evolving regulatory requirements.