Alset partners Tesla to deliver first 20 eco-friendly homes in Texas

ALSET International, the Catalist-listed property investment and development company formerly known as Singapore eDevelopment, has partnered Tesla to deliver its first 20 eco-friendly homes (Ehomes) in the Houston area of Texas.

In a filing on Monday evening, Alset said its US-based indirect subsidiary Alset EHome had signed a strategic agreement with the electric vehicle (EV) company for an initial supply of Tesla photovoltaic (PV) solar panels, Powerwall battery systems and EV chargers to be installed in 20 single-family homes in Northpark Community in Porter, Texas.

The group has 10 more of such homes under contract in the same community scheduled for closing at end-June.

It also intends to acquire an additional 70 units in the Houston area, targeting a total of 100 Ehome deliveries for 2021.

According to Alset, homes in the first phase of one of its flagship developments, Alset at Black Oak, are nearly sold out. The group added that development on future phases is "progressing well".

A total of 650 Ehomes are planned at this development in Magnolia, Texas, north of Houston. Alset aims to also feature Tesla solar PV roof panels, Powerwall systems and EV chargers in these units.

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"We are delivering what we believe will be the model housing ecosystem of the future. As more people look to make sustainable choices in their selection of homes, we are keen on making the transition for our customers the easiest it can be. This will also help accelerate the world's transition to sustainable energy," said Charley MacKenzie, US chief executive of Alset EHome.

Chan Heng Fai, chairman and chief executive of Alset EHome's parent company Alset EHome International, added that the plan is to develop over 5,000 Ehomes in the next three to five years while expanding this concept "on a global scale".

Alset's plans to build Ehomes were first unveiled on Oct 5, 2020 through an advertisement in The Business Times along with a bourse filing on the same day.

In its latest announcement, the group reiterated its intentions to integrate a clean energy ecosystem encompassing housing, transport and electricity. This will include an amenity centre with organic, modular or vertical vegetable farming, a cafe, visitor residences, infant or childcare clubs, and a social events venue.

Future homes will be built with energy efficient platforms supporting clean, sterilised airflow and advanced communication systems, said Alset.

As previously advertised, each Ehome will come with a complimentary Tesla vehicle to promote the use of EVs.

Shares of the group closed 0.1 Singapore cent or 1.6 per cent lower at 6.25 cents on Monday, before the announcement.