WORLD – Broad energy company TotalEnergies, has agreed to buy Singapore’s largest electric vehicle charging network from fellow French firm Bollore Group.
Upon the approval of the relevant authorities, TotalEnergies will manage and operate the largest electric vehicle charging network in Singapore, with more than 1,500 charge points installed in the city-state.
This urban charging network represents around 85% of the charge points currently under operation in Singapore, access to electric vehicles owners as well as the car-sharing solution BlueSG.
Singapore is aiming to phase out all internal combustion engine vehicles by 2040, encouraging drivers to switch to electric vehicles through a range of measures.
This network has been developed with the Land Transport Authority of Singapore (LTA) and with other partners from both public and private sectors.
The local growth perspectives for electric mobility are powered by the ambition of Singapore to massively develop the charging infrastructure as part of its Green Plan 2030, which includes a target to reach 60,000 charge points by the end of the decade.
“With this acquisition, TotalEnergies is pursuing its transformation and adds a new name on the list of global cities, such as Paris, Amsterdam, London and Brussels, where the Company is already developing its EV charge points installing and operating activities. We are committed to provide the customer experience and services in line with our future users’ expectations,” said Alexis Vovk, President of Marketing & Services at TotalEnergies.
“This urban charging network is also a key initiative for TotalEnergies in Asia-Pacific, a region where the development of electric mobility is a major challenge, deeply linked to the energy transition. We will do our intended best to make it a showcase of our expertise in this field.”
“With this acquisition, TotalEnergies is pursuing its transformation and adds a new name on the list of global cities where the Company is already developing its EV charge points installing and operating activities”Alexi Vovk – President, Marketing & Services, TotalEnergies
Commenting on the announcement, Ting Wee Liang, President of TotalEnergies Asia Pacific & Middle East – Marketing & Services, based in Singapore, added: “TotalEnergies is excited to enter the Singapore market to contribute towards the development of cleaner and reliable mobility solutions in the country. Today’s announcement also signals our ambition to actively participate in the Singapore Green Plan, to forge key partnerships and to accelerate developments in the region, using Singapore as a strategic launchpad.”
Recently the French company Total announced a corporate rebrand to TotalEnergies with a new business model that expands its energy market participation beyond oil and gas to include renewable energy — wind, solar, green hydrogen, among others.
The name change is perhaps the most visible and proactive indication by any oil company so far that use of oil and gas will decrease as the world embraces the use of low carbon renewable energy.
It is an expression of commitment and obligations by TotalEnergies to work towards meeting its carbon emissions reduction milestones to address climate change.
This will invariably see the multinational increase its capital spending in solar and wind energy generation, energy storage technologies while supporting green electrification of transportation which includes electric vehicles charging infrastructure.
The company will be expected to gradually scale down investments in new oil production ventures in line with its long-term energy mix plans to meet its carbon footprint targets.
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