ELECTRIC vehicle (EV) charging point operator (CPO) Charge+ has acquired 140 public and shared EV chargers from three other companies in Singapore that have ceased offering commercial charging services.
The Business Times understands that the three companies – eChargz, PaC Components and Quickcharge.sg – will cease operating commercial chargers, but continue with other aspects of the EV-charging business, including selling chargers to private dwellings, component supply and charger installations.
Charge+ declined to comment on the cost of the acquisition.
The chargers are located in 42 places around Singapore, including condominiums and publicly accessible buildings such as the Esplanade.
Chargers from eChargz made up the largest number – around 110.
Charge+ announced the move on Wednesday (Dec 11), but the new chargers had already been integrated into its network before Dec 7. Users can now access these chargers through the company’s app.
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Charge+ chief executive Goh Chee Kiong said that the move reflects a phase of consolidation for the EV-charging sector in Singapore as CPOs are subject to licensing standards, requirements and fees under the EV Charging Act. As a result, some smaller players may exit.
He told BT: “The Land Transport Authority’s (LTA) intent is to make sure CPOs are reliable and responsive to customer needs, and our view is that charging operators need to be of critical mass to meet LTA standards.”
The Act, which took effect from Dec 8, 2023, requires a registration fee for all commercial EV chargers by Jun 7, 2024. Commercial CPOs must also pay to be licensed by Dec 7, 2024.
Last year, LTA said the cost for a CPO to register 500 chargers with different power ratings is about S$100,000, which includes a S$16,500 fee for a three-year licence. This does not include the cost of maintenance or other conditions needed to meet LTA’s licensing requirements, such as public liability insurance.
Prior to this, CPOs were not required to have a licence, nor to register their chargers.
Charge+ already had the largest number of charging points in Singapore, and the acquisition brings its total number of charging points to around 2,500. SP Mobility has around 1,800 charging points.
