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Charge+ marks 4,000th EV charging point deployment across SG
Charge+, a Singapore EV charging operator, said it has deployed more than 4,000 charging points across the country.
The company linked the rollout to a S$21 million (around US$16.3 million) green loan from DBS Bank in 2024 under the Enterprise Financing Scheme – Green (EFS-Green).
Charge+ said it is in the process of completing a 2026 series B to raise US$20 million, as it builds a 5,000-km charging corridor across Southeast Asia and targets 30,000 points globally by 2030.
It raised a US$8 million series A round in 2024.
The company said it runs over 2,000 points across four of five HDB zones and about 1,700 points in around 300 condominiums.
Charge+ said almost all of its fast chargers across shopping malls, commercial, and industrial buildings are rated at 120 kilowatts or higher.
🔗 Source: Charge+
🧠 Food for thought
Implications, context, and why it matters.
Government rules and grants support Charge+ expansion
- Charge+’s rollout fits Singapore’s plan to reach 60,000 charging points by 2030, with 40,000 slated for public carparks 1.
- Work in public housing tracks the Singapore Government’s target for at least 12,000 EV charging points at around 2,000 Housing & Development Board (HDB) carparks by end-2025 2.
- Condominium sites may tap the Electric Vehicle Common Charger Grant (ECCG). It pays up to 50% of eligible installation cost components, subject to caps and availability, for chargers in non-landed private residences 1.
- Operators that offer public charging need a license from Singapore’s Land Transport Authority (LTA) under the Electric Vehicles Charging Act 2022, in force since 8 December 2023 3. EV chargers supplied or used in Singapore also face type-approval plus installation or certification plus registration rules tied to national standards (TR 25) 3.
Market share race could lead to consolidation
- Charge+ is expanding as the market weighs consolidation after SP Mobility Pte. Ltd. proposed acquiring ChargEco 4.
- SP Mobility is a wholly owned subsidiary of SP Group. The Competition and Consumer Commission of Singapore (CCCS), Singapore’s competition regulator, is reviewing the deal 4.
- The review may raise the stakes for Charge+ to grow and lock in locations through tenders plus private deals.
- CCCS is asking whether the transaction would substantially lessen competition 5. It covers availability, pricing, quality, or the number of public and private EV charging points, plus how drivers choose where to charge 5.
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