How much of a threat are EVs to oil giants and neighbourhood mechanics?

Kelly Ng

Published Mon, Jun 14, 2021 · 05:50 AM

Singapore

WHILE the impending wave of electric vehicles (EVs) heralds opportunities for many sectors, it threatens to disrupt others - among them, the retail fuel industry and your neighbourhood car mechanic.

In recent years, global retail fuel companies have been pivoting to tap the growing EV charging market and carve out an income stream from non-fuel sales.

Shell, for instance, has been shifting its positioning from a traditional fuels retailer to a mobility retailer. It set up its first City Solutions Living Lab in Singapore two years ago to focus on developing mobility solutions for sustainable cities.

The Netherlands-headquartered oil giant has also worked with Singapore's Energy Market Authority in awarding a research grant to a local consortium looking to develop the city-sta…