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Local EV charging operator aims to install 16,000 charging points in Singapore by 2030

2023-07-22 00:00:00.0 海峡时报-新加坡原网页

SINGAPORE – Drivers of electric vehicles (EVs) will have more charging points to use as local charging operator Charge+ aims to install 16,000 such points in Singapore by 2030.

This is more than the target of 10,000 charging points by 2030 the company had set in 2020.

The charging points include a mix of slow and fast chargers in Housing Board carparks, condominiums, shopping malls and commercial and industrial buildings.

The exact number of charging points in Singapore now is not available, but it is estimated to be more than 3,800. Just over 1,000 of these are operated by Charge+.

The company is confident of achieving its 16,000 target by 2030, chief executive Goh Chee Kiong said in a phone interview on Friday.

It is on track to reach 6,000 charging points by 2025, he said. Of these, 4,000 come under the EV charger tender awarded to the company by the Land Transport Authority (LTA).

Charge+ was one of five companies awarded tenders by LTA to install at least 12,000 EV chargers in about 2,000 HDB carparks by 2025.

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Mr Goh anticipates the EV adoption rate will accelerate further in Singapore between 2027 and 2030. This means the demand for charging points will correspondingly increase.

Charge+ will install about 2,000 charging points a year from 2026 to 2030 during this period of EV growth, said Mr Goh.

The growth will come from the expected larger supply of certificates of entitlement (COEs) in the coming years as more vehicles are scrapped, he said, basing this expectation on the age of the vehicle population.

As COE premiums fall from their now-lofty levels, more people will be shopping for vehicles.

Government support to encourage EV adoption is another driver of the anticipated EV growth, said Mr Goh. This includes incentives like the grant given to condominiums to install EV chargers and rebates for people who buy EVs.

Mr Goh said that batteries, the most expensive component of an EV, are set to become cheaper as technology improves. This, coupled with the lower running cost of an EV, which is about “two-thirds cheaper” than a petrol-powered car, will entice more people to go for EVs.

The 1,000 EV chargers now on the Charge+ network are either accessible to the public or are shared, like those in condominiums. The figure does not include those in private landed properties.

Other players include local charging operator SP Mobility, which has more than 600 charging points, and Bluecharge, by French energy giant TotalEnergies, which has 450 charging points. All these points are in public spaces.

Singapore has set a target to have 60,000 EV charging points by 2030, of which 40,000 will be in public carparks and 20,000 on private premises.