Not unexpected when you see the rydeEV swapping stations and bikes don’t match
This is another electric vehicle related business that has been retired. Yes, parent Yinson Greentech has moved away from rydeEV with more than 200 electric bikes delivered and some 50 battery swapping stations in operation.
So, why was this business NOT successful. This news comes after a social media posting on its own Facebook page.
Well, it could start with the people on top ….. who maybe …… just maybe …… did not do enough research into the business model for Malaysia where EV scooter acceptance is not growing fast enough and this filters down to the acceptance level of electric scooters in Malaysi by the ride hailing industry and delivery apps.
Note that even electric scooter company Blueshark is not doing that well and Treeletrik has closed its doors last year after years trying to gain momentum.
Blueshark has a solid product which we at www.dsf.my field tested and yet it has made little impact.
What is needed is electric scooters with longer riding distance …… from 250 kms upwards like the Simple Energy scooter from India that delivers up to 300km or riding.
So, if you are reading this and you want to enter this game, use the information we are sharing above to gain an advantage in this business.
Meanwhile, Yinson GreenTech shared this statement below on their page.
‘It has been an incredible journey with rydeEV, one that saw the launch of nearly 200 innovative e-bikes equipped with battery-swapping technology and its deployment of close to 50 battery swapping stations across Malaysia! With the strong partnerships that accompanied rydeEV, these milestones reflect the business’ strong capabilities and commitment to the government’s aspirations to achieve net-zero by 2050.
From today, rydeEV is now ready to ride solo and transition to become an independently managed entity outside of Yinson GreenTech, marking the next chapter in its growth journey.
The passionate team, led by Syed Faiz, will continue to advance micromobility solutions in Malaysia and beyond. The great relationship between Yinson GreenTech and rydeEV will carry on as we strive towards energising the electric transition and delivering greater convenience across the transportation sector.
We are proud to have supported rydeEV’s journey and look forward to continued collaboration in the micromobility space. Do stay tuned for exciting developments and keep updated with their latest news, including a refreshed brand identity!’
