TotalEnergies expands electric vehicle footprint with Singapore deal
TotalEnergies is set to acquire Singapore's largest electric vehicle (EV) charging network, announcing a deal on July 28 to buy 1,500 charge points on the island state, or 85% of its total.
The seller is France's Bollore Group, which developed the network with Singaporean authorities. Singapore is aspiring to have 60,000 EV charging points in operation by the end of the decade as part of its energy transition strategy. Some 95% of the country's electricity is currently generated using natural gas.
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"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," the company said. "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."
TotalEnergies last month secured a concession to build an extra 2,200 EV charging points in Amsterdam by autumn next year.