Singapore has 36 EV charging companies. Can they all survive?

EVOne’s chief charging officer Toh Ann Cher said power availability is a “huge factor” limiting the wider deployment of chargers. The family-run firm, which has diversified to heavy vehicle chargers, has found installing chargers at some industrial sites challenging.

“A lot of potential charging points like heavy vehicle parks, their switch rooms are very small, and so we can’t install chargers there,” she said. “Firms are hungry to find locations that have power.”

Timing is another challenge, said Ms Demi Tung, business development specialist for mobility at Eigen Energy, which operates more than 200 charging points. 

“Installing too many chargers ahead of demand would lead to maintenance and software costs on assets that sit idle, while under-deployment risks poor user experience and driver frustration,” she said.

For “well-utilised sites”, she said, it typically takes about four years to recover costs. “For lower-utilisation sites, the timeline is naturally longer, which reinforces the importance of disciplined deployment,” she added.

Great Charge, an EV charging operator owned by Allgreen Properties with 55 charging points at Great World shopping centre and another 20 at Pasir Ris Mall, said it was taking a long-term view on payback. 

“Rather than focusing on a specific payback timeline, our priority is to provide value for our shoppers,” a spokesperson said.