Singapore will have largest share of passenger electric vehicles in Southeast Asia by 2040. 80% of the passenger vehicles is projected to be electric by 2040. The first seven months of 2024, 23% of new car registration are electric type.

This will give a boost in automotive companies like Tesla, BYD; battery companies like Panasonic; raw materials suppliers; charging infrastructure and energy sector.

There will be a demand for more charging stations. Currently as of Dec 2023, there are nearly 6000 charging points in public and private spaces. The providers are Tesla (11 locations), BYD (122 stations at 11 locations), SP group(1000+ stations at 300+ locations), Shell Recharge (22+ stations), Charge+(1000+ stations), Bluecharge (1500+ stations), Keppel Volt (89+ stations), ComfortDelgro(CDG) Engie (500+stations) and MeComb (16 stations).

I think Singapore is small and will not affect big companies like Tesla, BYD, Shell by a lot. However, local ones can have better outlook. For example, Sembcorp providing the green energy sources; Keppel and ComfortDelGro providing more charging infrastructures. However, they must keep the cost per Kilowatt-hour competitive. As of Dec 2023, CDG Engie cost for charging is more pricely as compared to Shell but cheaper than SP group. With more strategic location for charging stations and competitive pricing, there will be more opportunities for growth.

$SEMBCORP INDUSTRIES LTD(U96.SI)$  

$ComfortDelGro(C52.SI)$  

$Keppel(BN4.SI)$  

https://www.straitstimes.com/singapore/transport/singapore-will-have-largest-share-of-passenger-evs-in-s-e-asia-by-2040-report

https://getsolar.ai/blog/ev-charging-stations-singapore/

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  • blinxz
    ·09-09
    Great news for Singapore
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