TransportBT: The future of EV charging in Singapore - Insights from SP Group
In the latest episode of TransportBT, Derryn Wong, correspondent at The Business Times delves deep into the intricacies of the EV charging landscape with Dean Cher, head of mobility, sustainable energy solutions at SP Group.
This episode is an eye-opener for anyone interested in the future of electric vehicles (EVs) in Singapore or the technicalities of EV charging infrastructure.
EV charging infrastructure today
One of the key takeaways from the episode is the rapid growth of EVs in Singapore. With more than a third of new cars sold in 2024 being EVs, the market is witnessing a significant shift.
However, as Wong and Cher point out, the EV charging infrastructure is still catching up. This makes understanding the business model of Charge Point Operators (CPOs) crucial for anyone interested in this field.
Cher provides an insider’s view on how SP Group began its electrification journey in 2016, even before the Singapore Green Plan 2030 was announced. This long-term vision has positioned SP Group as one of the largest CPOs in Singapore, with over 2,000 charging points.
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Challenges and opportunities
Cher candidly shares the challenges and opportunities in this rapidly evolving industry, making this episode both informative and engaging. Another fascinating aspect covered in the podcast is the technological advancements in EV charging.
The difference between AC (Alternating Current) and DC (Direct Current) charging is explained in simple terms with Cher elaborating on how each type of charging impacts the time it takes to charge an EV. The episode also explores the economic aspects of operating an EV charging network. Addressing the profitability challenges that CPOs face, Cher touches on the high initial costs of setting up charging infrastructure.
It’s about scale
Shedding light on the importance of scale and how legislation like the EV Charging Act is shaping the future of EV charging in Singapore, Cher shares SP Group’s initiatives, highlighting the potential for electrification in different modes of transport. This holistic approach provides listeners with a comprehensive understanding of the electrification landscape.
For those who are skeptical about the future of EVs and EV charging, this episode offers compelling reasons to be optimistic. The involvement of major investors like HSBC Asset Management is a strong vote of confidence in the industry. Cher explains how this partnership aims to accelerate SP Group’s growth and contribute to Singapore’s net-zero goals.
Listen now to the episode which provides a treasure trove of information for anyone interested in the future of electric vehicles and sustainable transport solutions.
TransportBT is a podcast of BT Correspondents. Look out for the next episode featuring senior correspondent Leslie Yee, which addresses housing affordability in land scarce Singapore. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
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Written and hosted by: Derryn Wong (derrynwong@sph.com.sg)
With Dean Cher, head of mobility, sustainable energy solutions, SP Group
Edited by: Emily Liu & Claressa Monteiro
Produced by: Derryn Wong, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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