The electric motorcycle and battery swapping outfit, RydeEV is no longer under Yinson GreenTech (YGT). This was revealed through RydeEV’s social media channels including Facebook, as well as YGT’s official LinkedIn page.
From what we have learned so far, the separation not only happened at the branding but also at the actual corporate level. In other words, RydeEV is now an independent entity with no ties to YGT.
However, YGT’s LinkedIn post pointed out that both companies will continue to maintain their relationship even though RydeEV no longer part of the company. The same post also noted that RydeEV will continue to be led by its current Managing Director, Syed Ahmad Faiz Syed Yusoff Fadzil.
It also marked the end of CelcomDigi x RydeEV partnership
Meanwhile, the change in RydeEV’s ownership also marked the end of its partnership with CelcomDigi. Launched in January 2024, the partnership resulted in the creation of the CelcomDigi x RydeEV postpaid plan which allows customers to obtain electric motorcycles via the telco’s Easy360 instalment plan from as low as RM299 per month.
The 36-month plan also covers unlimited battery swaps, road tax and insurance as well as maintenance of the electric motorcycle with the exception of its tyres. At the end of the contract tenure, customers have the option to own their motorcycle for just RM1 although they still need to sign up for a battery swap plan separately in order to keep the bike running.
In the CelcomDigi’s customer support site, the telco said that customers will have to make their monthly payment for the RydeEV postpaid plan to Oyika Green Technologies (the official business name of RydeEV) starting from 15 May 2025. They will also have to sign a new Lease-to-Own agreement with Oyika but their monthly commitment and remaining contract tenure will remain the same.
RydeEV’s future plans?
In the social media post announcing RydeEV separation from YGT, the company said that it has so far launched 200 electric motorcycles. In addition to that, it has also deployed almost 50 battery swapping stations across the country.
Curiously enough, the image that accompanied the announcement also showed the EasyCool E-XDV electric scooter which comes in several variants including the Pro version that has a Type 2 AC charging port similar to electric car.
Last year, RydeEV has planned to roll out the Cervo electric scooter which would become the first electric motorcycle in Malaysia to feature a DC charging port but the plan ultimately did not become a reality. Anyway, let’s not get too far ahead of ourselves and let’s see how RydeEV is going to reestablish its path post-YGT.
