Competition watchdog clears SP Mobility’s acquisition of ChargEco

[SINGAPORE] The Competition and Consumer Commission of Singapore (CCS) has conditionally approved the proposed acquisition of ChargEco by SP Mobility, the competition watchdog announced on Thursday (May 28).

The green light comes after SP Mobility offered a series of pricing and non-discriminatory commitments to address antitrust concerns.

The watchdog had flagged potential risks following a public consultation launched in early January 2026.

After a second round of consultations held between Mar 30 and Apr 13, CCS said it “considered the commitments to be sufficient to address the competition concerns, and has therefore approved the proposed transaction, conditional on SP Mobility implementing and complying with the commitments”.

Feedback had previously indicated that the transaction could significantly weaken competition, as both SPM and ChargEco were direct rivals providing electric-vehicle charging points at Housing & Development Board (HDB) carparks in the eastern region of Singapore.

In November 2022, both SP Mobility and ChargEco were awarded contracts to operate charging points in HDB car parks in the east, covering major estates such as Bedok and Tampines. Prior to the proposed transaction, the two firms acted as direct competitors in these areas.

To assuage the regulatory concerns, SP Mobility put forward commitments targeting EV charging point operations in the east.

Under the terms of the agreement, which will remain in place for a three-year period starting May 28, 2026, SP Mobility has pledged the following:

• Rates for charging EVs at the parties’ charging points in the relevant HDB estates will be frozen at pre-acquisition levels, except when SP Mobility needs to pass on costs from regulators or factors that are beyond the firm’s control. Operating expenses incurred by SP Mobility are considered within their control, CCS noted.
• Any discounts or rebate schemes offered by the merged entity will be applied in a way that does not disadvantage drivers solely because they are charging in the east.

SP Mobility is required to notify CCS of any intended price adjustments at these stations, alongside its existing contractual obligations to EV-Electric Charging, the Land Transport Authority subsidiary overseeing the public EV charging rollout.

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The CCS noted it retains the power to request that SP Mobility appoint an independent monitoring trustee if non-compliance is suspected.