Self-driving vehicles are the future, but happy drivers are still central to transportation: Ryde founder

Terence Zou, the founder of ride-hailing app Ryde, has logged more than 700 rides since starting the company in 2014. He has encountered various experiences with passengers, including being scolded for an ambiguous drop-off point and reconnecting with a former student he met during his time as a lecturer. Zou believes that drivers on the platform provide a human touch to the customer experience, allowing for relationship building, lead generation, and simple conversations that enhance the overall ride-hailing journey.

While self-driving vehicles are part of the future, Zou is confident that human drivers will continue to play a crucial role. He envisions autonomous vehicles being utilized in specific sectors, such as baggage transportation at airports or equipment transportation in industrial areas. Ryde is in discussions with Singapore-based AV companies MooVita and UISEE for potential collaborations, but fully autonomous ride-hailing fleets are not yet feasible due to high costs and safety concerns.

Ryde began as a carpooling app in 2015, a year after Grab and Uber entered the Singapore market. The company shifted focus to ride-hailing in 2018, after Uber exited the country. Ryde's share price plummeted after its initial public offering on the New York Stock Exchange in 2024, but it has since rebounded to trade around US$0.97. The ride-hailing and carpooling industry still has growth potential in Singapore.