Homegrown maritime electrification technology start-up Pyxis launched Singapore’s first fully electric workboat, the X Tron, on March 27.

With the launch, the start-up aims to provide port and ship workers who shuttle between mainland Singapore and ships anchored in the Republic’s waters with quieter, cleaner and greener rides over the sea.

The X Tron measures 14.8m in length and can ferry up to 12 passengers and a crew of two—similar to conventional diesel equivalents. Its range is up to 50 nautical miles, which is enough for two round trips from its operational base, Marina South Pier, and its surrounding anchorages.

The vessel utilises the same charging port electric vehicles. With a high-speed 150 kW charger, it takes about two and a half hours for it to get to full charge. One such charger will be located at Marina South Pier as part of a trial to be conducted by Pyxis and SP Mobility in April.

Pyxis took 11 months to manufacture X Tron and hopes to eventually get this down to six months in the future.

Pyxis aims to launch more than 100 electric vessels by 2030

X Tron is the first in a series of electric port passenger vessels made by Pyxis called Pyxis One. The start-up has two other product lines in the works, including the Pyxis R, an electric river boat that can accommodate 50 passengers designed to be used for sightseeing tours on the Singapore River, and the Pyxis L, a more luxurious variant of Pyxis R.

Vessels in the Pyxis One product line, including the X Tron, are expected to save up to 120kg of carbon emissions per hour compared to equivalent diesel vessels.

Including the X Tron, Pyxis now has a total of 13 vessels on its order book. The company aims to deliver all of them by 2026. The start-up’s larger goal is to launch more than 100 electric vessels across the Asia-Pacific region by 2030, it added.

“As frontrunners in the coastal maritime sector, we aim to propel the beginning of a new era in Singapore’s maritime industry by making electrification accessible to all,” said Tommy Phun, Pyxis’ Founder and CEO.

“Pyxis is founded for the industry, by the industry”

Founded by seasoned industry experts in 2022, Pyxis aims to spearhead the transition to a sustainable, greener and more efficient maritime future in both local and regional ports. In Singapore waters alone, an estimated 1,600 harbour crafts are ready to be electrified.

Earlier in February, the company secured S$4.5 million in a seed funding round co-led by Motion Ventures and Shift4Good. Other participants of the fundraise include Seeds Capital, MarImpact, ShipsFocus, Tian San Shipping, Kim Ann Investments, and LCC Resources.

Alongside Pyxis’ electric port passenger vessels, the company also aims to usher automation and digital transformation in the maritime industry through its digital platform, Electra—an all-in-one platform for fleet management, electric charging, route optimisation, predictive maintenance, and emissions reduction tracking.

Pyxis is founded for the industry, by the industry. It is our strong network, industry expertise, and proprietary technology that allows Pyxis to focus on data-driven designs and optimisations in expanding beyond Singapore to sister ports in the APAC region.

Our team of industry experts is immersed in the intricate workings of the coastal maritime landscape and is united by a shared vision to overcome the sector’s demands and challenges.

– Tommy Phun, Founder and CEO, Pyxis

Featured Image Credit: Pyxis

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

With the rapid rise in electric vehicle (EV) adoption and increasing demand for charging infrastructure in Malaysia, the need for expansion is paramount.

At least, that’s what local charging point operator ChargeSini believes.

“The EV market presents a vast opportunity, but capital investment is crucial to meet the surging demand effectively,” the team shared with Vulcan Post.

As such, ChargeSini is now raising for its Series A, targeting to raise US$6 million within a timeframe of six months, placing it at a valuation of US$120 million.  

“This funding round is pivotal as it allows us to capitalise on the momentum we’ve gained in building EV charging infrastructure,” they explained.

ChargeSini also shared that they’ve signed numerous ongoing projects, with concrete plans to construct over 300 new charging points across prime locations in Malaysia by end of this year.

After successfully going the equity crowdfunding route previously to raise RM5.6 million, ChargeSini is now targeting institutional investors such as venture capitalists and private equity firms who can lead them into subsequent rounds of funding.

But aside from raising its series A, ChargeSini is also opening up its business to another kind of investor—project partners.

Own your own stations

ChargeSini revealed to Vulcan Post that along with the Series A investment opportunity, the company will be shifting its business model away from traditional ownership structures.

Moving towards an asset-light business model, ChargeSini is inviting external investors and individual stakeholders to participate as project partners by purchasing and owning ChargeSini’s EV charging stations at specific locations.

“This innovative approach allows ChargeSini to leverage upfront capital from investors, thereby mitigating the need for extensive asset ownership,” the team explained.

ChargeSini’s project partners have the opportunity to invest in specific projects or stations, with ownership starting at an investment of RM100,000 per EV station.

This shift in business models was sparked by the urgent need to optimise capital efficiency, the team elaborated.

“With the government targeting 500,000 EVs on the road by 2030 as part of its sustainability goals, the scale of the challenge became clear,” they pointed out.

To address the demand, ChargeSini shared there would be a requirement of at least 50,000 charging ports in the next five years.

“However, our previous heavy asset ownership model posed constraints on scalability and required substantial financial commitments, prompting us to explore alternative approaches,” they said.

When relying solely on internal resources proved to be insufficient, ChargeSini saw the answer in a collaborative approach.

This not only alleviates the burden of capital on ChargeSini, but it also fosters a synergistic ecosystem, much like that of a franchise model.

How it operates

Under the new model, all net profits from a station will go to the project partners.

On the topic of expected return on investment (ROI) for project partners, ChargeSini said that would be contingent upon the growth of the numbers of EV in Malaysia.

“We anticipate a booming EV market within the next two years, with an expected ROI timeframe of two to four years, depending on EV adoption rates and usage patterns,” they elaborated.

The EV startup is already selling new locations currently, with the investment from project investors being utilised to construct these stations.

They have already listed a number of bundled locations on their website that potential project partners can start booking.

Upon booking a lot, investors will be required to provide a deposit to secure their reservation.

Following this, ChargeSini will provide a clear timeline outlining the expected completion and readiness of the charging station. Once the investor has paid the full amount, ownership of the respective stations will be officially transferred to them. 

The procedure is comparable to property projects, ChargeSini explained.

The machines will also come with a warranty. That means project partners will receive comprehensive support and maintenance throughout the duration of the partnership. 

Project partners also have the flexibility to sell back their lots, ensuring an exit strategy and ensuring liquidity for their investment.

Putting the EV in evolution

At the time of writing, ChargeSini has already secured more than 10 bookings.

They clarified that there are no specific targets for the number of lots booked or capital raised. Rather, they want to focus on delivering value to investors.

Beyond this business model, ChargeSini will continue to maintain self-owned stations in other locations.

“This hybrid approach ensures a balanced portfolio of owned and partner-owned stations, maximising market coverage and profitability,” the team concluded.

Through this evolved business model that’s in conjunction with its Series A fundraising, ChargeSini hopes to expand its charging station’s presence, in turn advancing the adoption of sustainable transportation solutions in Malaysia.

• Learn more about ChargeSini here.
• Read other articles we’ve written about ChargeSini here.

Featured Image Credit: ChargeSini

I’m really late to the electric vehicle (EV) game. We’ve been writing about EVs for years, but I have never actually sat in one, let alone driven one.

With the launch of the BYD Seal though, that all changed. 

But first, a few disclaimers. Obviously, I have no basis of comparison when it comes to EVs, so my thoughts would be from the perspective of someone who has driven only internal combustion engine (ICE) vehicles. 

All the bells and whistles of newer, fancier cars aside, what I want to review in this article is also purely down to the expected features of a premium car.

That means we’re mainly talking about safety features, comfort, and the driving experience. 

Since this was a barely one-hour test drive with the BYD Seal, I can’t speak on the cost-saving features of driving this EV versus a petrol car, nor can I properly give an in-depth review of the BYD Seal.

With that in mind, here’s what my experience driving an EV for the first time was like.

Looking good

I have to touch upon the looks of the BYD Seal, because I think that matters to quite a lot of people (myself included). 

A lot of popular EVs I’ve seen on Malaysian roads seem to be on the tamer, rounder side, especially the SUVs. So I quite like that the BYD Seal is a sleek, sporty, and stylish car. In short, it has that “sexy” factor.

I kept thinking it looked reminiscent of the Mazda MX-5 or Porsche Panamera, except with a much smaller grille. EV-wise, I’ve heard people say it reminds them of the Tesla Model 3, and I can see that too.

The BYD Seal is said to carry on the brand’s “Ocean Aesthetics” philosophy, which they showcase through elements like the waterdrop mirrors, LED tail lights, wave waistline, and more.

The car supposedly takes design inspiration from waves and mountains in its smooth curves all over, but I can’t quite get the vision. Maybe I just need to get more imaginative, though.

But all in all, yes please, to more sporty looking EVs in the future.

Gearing up for the road

Taking it out onto the road, the first thing I noticed was that the gear is very different from what I’m used to. There are just three modes I can switch in between, which are R, N, and D.

Upon further research, it seems like this is more common in EVs than I would’ve thought, which I suppose makes sense given that they don’t need multi-speed transmissions.

EVs are said to have better responsiveness, and I could definitely feel that. 

The car would immediately accelerate once I stepped on the pedal, and the brake was very sensitive, but thankfully it didn’t take long for me to get used to the latter.

BYD says that the Seal can go from 0-100km/h in 5.9 seconds for the Premium version we drove (the Performance version takes just 3.8 seconds). I couldn’t test it during our drive, but I can say that it feels like the car has a good amount of power behind it. 

According to the specs sheet, the BYD Seal (Premium) produces around 230kW of maximum power and 360Nm of torque. This is powered by a 82.5kWh battery that is directly integrated into the chassis of the vehicle, in what’s known as cell-to-body (CTB) technology. 

Navigating the car around tight, narrow bends and through KL’s rough roads was easy enough, which I guess points to the car having good steering. 

Safety-wise, we saw some features of the BYD Seal’s advanced driver-assistance system (ADAS) come into play, such as the predictive collision warning, and adaptive cruise control calibration.

In short, the steering system would nudge the car back into its own lane if it felt like I was doing a riskier overtaking manoeuvre, and the cruise control would adapt its speed and braking according to the cars around me.

I noticed that the car also had a speed limit warning which kept going off while we drove around. In my defence, I was simply matching the speed of our convoy.

I couldn’t figure out how to turn it off either; asking the voice assistant inside the 15.6-inch rotating display was fruitless, as she either couldn’t understand us, or that command simply didn’t exist.

(According to research as I’m writing, it seems that the setting can be turned off in the ADAS section of the display, but man, does it take some digging to find.)

Thankfully, the warning wasn’t too loud or jarring. 

Even the indicators were quiet, without the usual “tick-tock” noise. They were so quiet that several times, I accidentally forgot they were still on.

Confirmed comfort

If you remember the CTB technology mentioned earlier, it also enables a vehicle to be lighter and more spacious. 

The Thaumus Black interior has ergonomically designed sports seats which felt plush, and the overall cabin was definitely spacious.

I don’t think legroom would be a problem, and those who often have lots of stuff to stow away will be glad to know that the sedan has 400L of rear trunk capacity (with 50L of space in the front trunk).

The BYD Seal also promises great suspension, and I’d say it holds true. For both driver and passenger, the ride was very comfortable.

In general, the BYD Seal was quite a quiet car. The sound insulation in the cabin was pretty good compared to ICE cars, but I’m not sure how it fares against other EVs of its segment.

Overall thoughts

To describe the BYD Seal in one word, it is smooth. From the design choices to the driving experience, everything felt very smooth. It aligns with what I’ve heard of EVs, at least. And don’t just take it from me, the driver, because my colleague (passenger) agreed with me too.

Other than the slight differences I had to get used to, such as the gear, the experience wasn’t groundbreaking.

There was a lot of fancy “high tech” which I think is common in many of today’s EVs, but those are things I could live without. They’re not crucial to the day-to-day driving experience, I’d argue, and sometimes don’t feel intuitive at all. 

I’m in no way blaming my lukewarm review of EVs on the BYD Seal, as I think most existing premium EVs would garner the same results for me. Unless it was one equipped with a completely autonomous self-driving system. 

Now, that might just change my life, but we will not know for sure for the foreseeable future, since full autopilot of cars is still not allowed in Malaysia.

My biggest takeaway from this test drive is that EVs really aren’t as “weak” or “boring” as some ICE car enthusiasts might say (and as I once assumed).

If you still harbour doubts, there’s no harm in just going for a test drive and seeing how EVs perform for yourself.

Only two of three variants of the BYD Seal will be available in Malaysia, distributed by Sime Darby Motors. The Premium variant starts at RM179,800, and its colour options include Cosmos Black, Atlantis Grey, and Aurora White.

Meanwhile, the Performance variant starts at RM199,800, and its colour options are the same as the Premium’s, with the exclusive addition of Arctic Blue.

• Learn more about BYD Seal here.
• Read more car-related content from us here.

All images credit: Vulcan Post

Car-sharing platform GetGo and bus and rail operator SBS Transit have signed a Memorandum of Understanding today (26 February) to promote car-sharing for better first- and last-mile connectivity to or from SBS Transit’s islandwide rail and bus network.

Under the partnership, GetGo’s car-sharing vehicles will be made available within 500 metres of all the 50 MRT stations on the North East and Downtown lines, as well as SBS Transit-managed bus interchanges.

Apart from this, both companies will also tie-up with external partners and merchants to offer marketing promotions via GetGo’s ‘GetDeals’ loyalty programme to encourage greener commutes. Partners that have previously participated in the GetDeals programme include Sentosa, Singapore Discovery Centre, and The Punggol Settlement.

The partnership between GetGo and SBS Transit aims to create a flexible, inclusive, and sustainable mobility ecosystem in Singapore, and promote the advantages of commuting anywhere by bus, train, and shared cars without the need for personal vehicle ownership.

According to Toh Ting Feng, the CEO and co-founder of GetGo, the company’s partnership with SBS Transit “marks a pivotal step towards realising Singapore’s ‘car-lite’ vision”. “This collaboration underscores our commitment to redefining the future of urban mobility”.

“In line with the Singapore Green Plan 2030, we are fully committed to forging collaborative partnerships
and co-creating innovative solutions that encourage and inspire active mobility for a more sustainable future,” adds Jeffrey Sim Vee Ming, Group CEO of SBS Transit.  

Featured Image Credit: GetGo/ SBS Transit

According to the latest statistics from Singapore’s Land Transport Authority, the monthly new registration of electric vehicles (EV) has reached 28 per cent, 4 per cent higher than petrol vehicles in Singapore for the first time.

This follows the surge in EV registrations in Singapore last year, with a 50.3 per cent year-on-year increase in 2023 compared to 2022.

According to statistics by the Singapore Land Transport Authority, Chinese carmaker BYD remains at the forefront of EV manufacturers, with 262 vehicles registered and making up approximately 11.7 per cent of new vehicle registrations in Singapore.

BYD showroom in Singapore/ Image Credit: CarBuyer Singapore

In recent years, the city-state has seen a surge in EV manufacturing following the Singapore government’s aim to achieve net zero emissions by 2050. The announcement called for established industries, such as in this case – transport, to become more active in converting to greener sources, which they aim for every HDB town to be EV-ready by 2025.

As a result, over 2,400 EV chargers have been installed at more than 700 HDB carparks, and the first batch of public fast chargers was launched at the HDB Hub in Toa Payoh earlier last month (January 18).

Many transport companies and manufacturers have also entered partnerships and built new factories to accelerate the conversion and adoption of EVs nationwide.

Most recently, South Korean automotive giant Hyundai Motor Group has opened their innovation centre in Singapore, where they integrate robotic technology into the manufacturing process and can produce up to 30,000 EVs annually.

ComfortDelGro (CDG) ENGIE – a joint venture with Singaporean mainstay transport company ComfortDelGro and ENGIE Southeast Asia, also entered a partnership with Malaysia’s Yinson GreenTech to offer a combined EV charging network of 8,000 points in both countries by 2030.

With more organisations coming forward with their innovative green solutions and are actively looking for sustainable energy sources, it has accelerated the overall adoption for EVs in Singapore, signifying the collective effort of the nation of working towards the net zero goal.

Featured Image Credit: CarBuyer Singapore

When BYD first announced that it would transition from making batteries to electric vehicles (EVs) and hybrid cars in 2003, it was met with ridicule and scepticism. Wang Chuanfu, the 57-year-old founder and CEO of the firm, recalled that the value of BYD’s shares halved as investors questioned its strategy.

But they’re not to blame. After all, many companies that have tried to break into the industry have failed miserably, mainly due to the small market size and the need for breakthrough innovations to commercialise the vehicles at the time.

Securing investment from Warren Buffet marked a turning point for BYD, yet, the skepticism still followed.

“Have you seen their car?”, Tesla CEO Elon Musk asked contemptuously in a Bloomberg interview back in 2011. “I don’t think they have a great product. I don’t think it’s particularly attractive, the technology is not very strong,” he added.

There were moments where Wang contemplated giving up. Nevertheless, he still sought to realise his vision of transforming BYD into a prominent player in the EV industry.

The 57-year-old eventually brought his aspirations to fruition after years of relentless dedication. By 2023, BYD has dominated the global EV industry, overtaking Tesla to become the world’s biggest EV manufacturer.

In Singapore, it has become the top-selling EV brand, and is the first car brand from China to rank among the city-state’s top 10 best selling cars.

But how did Wang manage to steer his company to such unprecedented success?

He loaned US$300,000 to start BYD

Born in 1966 in east China’s agricultural Anhui province, Wang was raised by his older siblings after his parents, who were both rice farmers, passed away. After obtaining a Master’s degree in battery technology under a scholarship, he went on to become a researcher for the Chinese government.

A few years into his career, Wang moved to Shenzhen, where he founded a cellphone manufacturing company with his cousin, Lu Xiangyang, and named it BYD. With a borrowed sum of about US$300,000 from one of his wealthy relatives, he swiftly established both an office and a factory within four months.

From the outset, BYD sought to replicate successful products made by the likes of Japanese leaders like Sanyo, Toyota, and Sony, but at a lower cost.

Instead of investing into expensive machinery, Wang relied on a huge workforce of more than 1,000 workers. He broke down the battery manufacturing process into hundreds of steps that untrained workers could manage without expensive equipment.

Although incorporating more manual labour meant that the company sacrificed its nominal productivity by approximately ten fold as compared to Japanese companies, BYD’s batteries still held a competitive edge—their unit cost was five or six times lower than that of Japanese batteries.

By 2002, BYD had established itself as one of the world’s top five rechargeable-battery manufacturers, attracting major customers such as Motorola, Siemens, Samsung, and Nokia.

He drank battery fluid to impress investors

Riding on the waves of success, BYD went public on the Hong Kong Stock Exchange in 2002, but Wang’s ambitions did not just stop there.

Seeing the potential for the use of batteries in the automobile industry, he purchased a failing state car manufacturer, Tsinchuan Automobile, and ventured on a journey that would see BYD evolve into a major player in the global EV market.

Despite facing pushback from its investors, BYD released its first car in 2005, a gasoline-powered sedan called the F3 that resembled the Toyota Corolla. In fact, the two were almost identical; to the untrained eye, the only difference between the cars was their insignias.

But the F3 was also significantly more affordable than its rival, which could explain why the gasoline-engine car topped sales charts in China by the late 2000s. The car was sold for as little as US$8,000, which was about half the cost of a Toyota Corolla then.

The success of BYD in China soon caught the eye of Warren Buffett, on the recommendation of his partner, the late Charlie Munger, as he looked to capitalise on the growing automative industry in the country.

During a tour of the business’ factories and operations, Wang reportedly took a sip of battery fluid to impress the investors and prove that that BYD’s batteries had the “potential to solve environmental problems, rather than create more”. 

His bold move proved to be successful. A few months later, the firm secured a US$230 million investment from Buffet’s Berkshire Hathaway in 2008 for a 10 per cent stake in the company.

“We have to learn from them, then we can stand on their shoulders”

Much like BYD’s battery arm, Wang opted for a workforce-heavy approach for the company’s auto business. Instead of investing into automation, he once again hired thousands of workers to handle simple processes.

According to the Wall Street Journal, these employees were often brought in on short-term contracts, allowing the company to replace them within a couple years to avoid increasing wages.

Apart from this, BYD also strategically shifted its production in-house for nearly all components, including its lamps and semiconductors. Since the company’s inception, Wang has always strived to independently manufacture the crucial and costly elements of its vehicles.

Wang has always remained transparent about his strategy of imitating various competitors in the automotive scene. In various interviews, he candidly acknowledged that BYD drew inspiration from existing products, however, he avoided replicating patented components.

We have to learn from them, then we can stand on their shoulders.

– Wang Chuanfu in an interview on a Chinese news program in 2021

2019 was a year filled with challenges for BYD

Following Buffet’s investment into the company, BYD made its next big splash by launching the world’s first mass-produced plug-in hybrid, beating many global names like General Motors and Toyota to the punch.

The plug-in hybrid was initially sold to a limited number of government agencies and corporations in China. The following year, BYD subsequently began manufacturing its first all-electric car.

By the end of 2009, BYD had gained US$5.1 billion in value, and Wang had become the richest person in China, topping Forbes China’s rich list for the first time.

Things seemed to be smooth sailing for the automative company for the next couple of years, that is, until the emergence of Tesla and other EV startups in the Chinese EV market.

In 2019, BYD’s earnings plummeted by half, with the company selling 21 per cent fewer vehicles than it had in the previous year amid the competition. At that point, Wang openly shared that the company had only one goal—survival.

To keep up with the rapidly evolving EV landscape and revitalise its position in the market, the brand redirected their focus onto innovation and R&D. Eventually, BYD came up with Blade, a battery that could safely power EVs over longer distances.

In 2020, Blade made its debut with BYD’s Han electric sedan, which can drive 375 miles (approximately 600 km) in a single charge. The EV costs around US$30,000, which is less than half the price of a Tesla Model S with a similar range.

BYD is looking to “aggressively expand” across S’pore

BYD’s global sales has since quadrupled from 2020 to 2022, solidifying its position as China’s top seller of new-energy vehicles.

Having conquered the Chinese market, BYD is now actively seeking to enter overseas markets for their global expansion. Today, the company is present across 6 continents, in more than 70 countries, and over 400 cities worldwide, including Singapore.

Although BYD has been in Singapore since 2014, the company recently doubled down on its expansion efforts in the city-state.

Last June, the EV manufacturer has collaborated with EightX Lifestyle Group to open their first lifestyle centre, BYD by 1826 at Boat Quay, which allows customers to dine while learning more about BYD’s EV technology.

Two months later, the company went on to launch a cafe-cum-showroom in a mall in the heart of downtown, right next to another shopping centre that houses Tesla’s showroom.

Looking forward, BYD shared that it has “aggressive expansion plans” in store for the region, including the opening of two or three more outlets this year, up from the current crop of seven outlets.

Beyond Asia, it is also looking to strengthen its presence across various regions including the Middle East, Africa, Europe, and North America.

Ultimately, BYD is looking to position itself amongst the top tier of carmakers worldwide and command the same amount of recognition and esteem as global household names.

“China has yet to create a single international marquee of its own that is universally recognised and respected,” Wang said at a ceremony commemorating the production of BYD’s 5 millionth EV in Shenzhen. “It is time for Chinese carmakers to upend the order of the global automotive industry and chart a course into a new vast territory.”

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Featured Image Credit: Fabrizio Costantini/Bloomberg via Getty Images

The first batch of public fast chargers aimed at serving fleet and high-mileage electric vehicle (EV) drivers have been launched at the Housing Development Board (HDB) Hub in Toa Payoh, and the Oasis Terraces integrated development in Punggol today (January 18).

The fast chargers, which will begin public operation tomorrow, will allow drivers to get half a full charge in just 30 minutes on average.

At HDB Hub, the fast chargers are operated by Shell. They can accommodate up to four EVs at two 120 kilowatt (kW) direct current (DC) stations, and up to two vehicles at two 22 kW alternating current (AC) chargers.

Meanwhile, the fast chargers at Oasis Terraces are operated by SP Mobility and can accommodate up to two vehicles at a 100 kW DC station, and four vehicles at four 22 kW AC chargers.

According to Senior Minister of State for the Ministry of Sustainability and the Environment Amy Khor, who officiated the launch, more fast chargers will be deployed in other HDB neighbourhood and town centres as well as JTC industrial areas which are frequented by fleet drivers in the months to come.

While slow charges will meet the needs of most drivers in Singapore, the Senior Minister acknowledges that fast chargers are also required as a supplement, particularly for high mileage vehicles like taxis, private hire cars and commercial fleets.

Given that most of the fast chargers deployed across the city-state beyond petrol kiosks are primarily found in commercial malls and offices where parking fees tend to be higher and are less favourable by fleet drivers, the government plans to deploy fast chargers in more convenient locations to serve the needs of these drivers.

Singapore has deployed over 2,400 EV chargers at over 700 HDB carparks

Singapore has achieved various EV targets in 2023. New electric car registrations in the city-state reached 18.2 per cent of all new car registrations, which is five times more compared to 2021 and 50 per cent more than that in 2022.

In November 2023, registrations for new, cleaner energy cars surpassed 75 per cent for the first time.

It is very good progress and we hope that we will continue to keep up this momentum and see more EVs and fewer ICE vehicles on the road progressively.

– Senior Minister of State for the Ministry of Sustainability and the Environment Amy Khor

Senior Minister of State Khor also announced that Singapore has achieved its interim target of equipping one in three HDB carparks with EV chargers in 2023. Today, there are over 2,400 EV charging points at over 700 HDB carparks across every HDB town.

Over the next few years, the government will deploy EV chargers to the rest of the remaining HDB carparks to ensure greater convenience for Singaporeans in accessing these chargers.

Featured Image Credit: Lucy Nicholson via Reuters

Easing the payment process was a key theme explored during the Singapore Fintech Festival 2023. To this end, the Monetary Authority of Singapore (MAS) unveiled two new cross-border systems in partnership with Malaysia and Indonesia respectively. 

Singaporeans can now use PayNow to send money to Malaysia with no additional apps or sign-ups required. On holidays to Indonesia, they’ll find merchants using QRIS and NETS QR codes, which can be scanned using their existing banking apps. This will reduce the need to convert and carry foreign currency. 

The same applies for Malaysians sending money to Singapore, and Indonesians making payments while visiting the country. All in all, these partnerships are a significant milestone in enabling seamless finance across Southeast Asia. 

Alongside the MAS, private companies are also doing their part to aid this mission. Global Payments Inc. has partnered with Visa to launch its Mobile Tap payment solution in Singapore. This service aims to empower merchants to accept payments using only their smartphones. 

The need for Mobile Tap payments

As Singapore moves towards a cashless society, merchants have no choice but to adopt new means of payment. This is necessary to compete and reach a wider audience. 

So far, QR codes have been a popular choice, often used by small businesses such as hawker centre stalls. While this is convenient for many local customers–who can scan the codes and pay using digital wallets such as GrabPay or services like PayAnyone–it’s not an ideal solution for everyone. 

Currently, SGQR codes – Singapore’s standardised QR codes for e-payments – are only supported by a limited selection of global banks and digital payment apps. Tourists–especially those from outside Asia–may have trouble scanning these codes using their usual banking apps. They would have to rely on cash when shopping at small merchants. 

Apart from this, QR codes may also prevent customers from receiving the perks of credit card transactions, such as airline miles and cashback rewards. When scanning QR codes with services such as Google Pay or PayAnyone, money is transferred directly from a customer’s bank account–it’s not possible to charge purchases to a credit card. 

With these reasons in mind, the appeal of Mobile Tap payments becomes apparent. This solution allows merchants to accept card payments using only their smartphones.

“With Mobile Tap, merchants are using their own smartphone as hardware. As such, POS (point-of-sale) terminal rental fees are not levied,” says a Global Payments representative.

Are Mobile Tap payments safe?

One of the concerns surrounding Mobile Tap payments might be that of security – what if the smartphone receiving payments is infected with malware or programmed to store payment information? 

As per Global Payments, this is not a problem to be worried about.

“No matter if it’s Mobile Tap or POS terminals, all payment solutions available for merchants and cardholders are required to attain certification issued by PCI-DSS (Payment Card Industry Data Security Standard). This is the highest level of standard globally recognised by international card schemes associations,” a Global Payments representative explains. 

Mobile Tap systems feature a certified ​​security protocol for contactless payment acceptance. All sensitive card data and personal information is encrypted and secure from potential malware attacks. 

Generally speaking, contactless payments are known to be more secure than other forms of transaction. They aren’t susceptible to traditional card skimming techniques, which consumers must be wary of when using card readers. 

Building a cashless society

Solutions such as Mobile Tap are paving the way towards a fully cashless society. In doing so, they’re overcoming hurdles such as cost and inconvenience, which have plagued this vision in the past. 

One of the key advantages of Mobile Tap – beyond the reduced expenses – is mobility. In crowded settings such as restaurants, merchants can easily collect payments at the table without having to retrieve a POS device. This process also improves the customer experience, as diners no longer have to hand over their credit card or wait in line at a designated payment counter. 

While smartphone payment acceptance is not an entirely new idea, this is its most user-friendly iteration yet. “Earlier, merchants had to carry an extra hardware device and connect it to their smartphones through Bluetooth or cables. Now, by adopting the built-in NFC technology, [smartphones can be used to accept payments] without the hassle of device-pairing connections.” 

With solutions like these, Singapore is well-positioned for the global shift towards digital payments. Ever since the pandemic – which accelerated the development of cashless payments – these transactions have become more and more commonplace.

As per a report by Global Data, cards accounted for a 50 per cent share of the country’s transaction volume in 2023. “The government’s push for a cashless society, the growing digitalization of banking services, and the increased convenience of contactless technology have supported the growth of card-based transactions.” 

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Featured Image Credit: Global Payments

Also Read: The future of digital money: Singapore sets the standard for stablecoin adoption

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

Last year, the Malaysian electric vehicle (EV) industry scored a win in the form of the entry of major players such as Tesla and BYD.

Moreover, EV adoption has been growing year-on-year, rising to 7,500 units sold in the first nine months of 2023 alone. The total units of EVs sold from 2019 to 2021 was just 300 units, mind you.

With all this in mind, increased EV adoption is something that we predict will continue substantially in 2024.

But don’t just take it from us—ChargeSini believes the same. ChargeSini is a local EV charging point operator (CPO) with a total of 596 charging points across 193 locations.

As we settle into the new year, we wanted to get more insights from local players like ChargeSini on what we can expect from Malaysia’s growing EV sector. 

Despite the promising growth, though, there are unique challenges that Malaysia’s EV market faces.

One main challenge, ChargeSini pointed out, is the oil subsidies in Malaysia.

“Malaysia offers some of the cheapest oil in the world to its citizens, where locals can pump for just RM2.05/litre,” the team told us. “In 2022, the Malaysian government bore a hefty subsidy of over RM80 billion for RON95 petrol, diesel, liquefied petroleum gas (LPG), and electricity.”

These sorts of subsidies may stand in the way of EV’s growth. But, this may also present an opportunity for the industry, which leads us to ChargeSini’s first prediction for the EV industry in this year.

1. Reduced expenditure on oil subsidies

As mentioned, the Malaysian government has spent quite a lot on oil subsidies over the years. For 2024’s Budget, it’s stated that subsidies for diesel fuel will be rolled out in phases.

One way the government can reduce its spending on these subsidies is by promoting the use of EVs, which is of course a win for startups in the industry like ChargeSini.

“This potential policy shift could further improve the prospects of the EV market in Malaysia, making it an exciting space to watch in the coming years,” ChargeSini said.

2. Lowered EV prices

Last year, updates on Proton and Perodua’s planned local assembly of EV cars were released.

In August 2023, The Edge reported that Perodua was planning for the local assembly of its EV cars. Its president and CEO Datuk Seri Zainal Abidin Ahmad had said that the company is “looking at a variety of ways to introduce EVs to the mass market”.

On top of that, he said a goal is to make them affordable for most Malaysians.

We know that lowering the cost of EVs is a key factor that can help increase EV adoption, so Perodua’s foray into the scene is definitely something exciting for the landscape.

Leveraging part-owner Geely’s knowledge, Proton’s EV initiative is also underway, with reports stating that its new EV model can be launched as early as 2025.

These local players’ push into EVs may help encourage more confidence in the sector amongst Malaysians.

3. More EV options to foster more demand

ChargeSini shared that in 2024, there will be more globally recognised EV models (such as BMW i5, BYD Seal, and MG ZS EV) entering the Malaysian market.

These increased options for consumers will in turn foster healthy competition, contributing to the diversification of the EV portfolio in Malaysia.

“At ChargeSini, we view these developments as positive catalysts for the EV industry’s growth,” the team said.

“The availability of diverse and competitively priced EV models, combined with our commitment to an extensive and accessible charging infrastructure, creates a synergistic ecosystem that encourages wider EV adoption in Malaysia.”

4. Increased charging options in commercial areas

Of course, with increased EV adoption, there’ll also come a wider network of charging points.

For ChargeSini specifically, they shared that they have been continuously establishing a comprehensive and easily accessible charging network across Malaysia.

For 2024 in particular, the startup has strategically partnered with various hypermarkets to position its charging points.

They teased, “Look forward to encountering ChargeSini’s DC Fast Charge stations at 28 Mydin Hypermarket outlets, AEON Big, Target Hypermarket, Today’s Market, and 59 Lotus’s Hypermarket locations throughout Malaysia.” 

Clearly, a primary focus of theirs this year will be on commercial areas. That said, ChargeSini is also committed to enhancing the charging infrastructure in residential condominiums, collaborating with local city councils to provide value-added facilities.

This could be something that we see more service providers doing in the near future too.

5. Increased global recognition of Malaysia’s EV industry

Tesla’s entry into Malaysia last year has been monumental in helping put our nation on the map when it comes to EVs. After all, it was a part of the government’s push to make Malaysia a regional hub for the EV industry.

While global companies like Tesla are planting roots in Malaysia, homegrown companies may also be looking to make their presence known abroad.

For one, Nikkei Asia reported in October 2023 that Proton was looking to set up an EV factory in Thailand.

Meanwhile, startups like ChargeSini are also expanding beyond Malaysian borders.

Starting the year off with a bang, ChargeSini is inaugurating its initial charging stations in Medan, Indonesia this month, marking the commencement of its journey into the Southeast Asian region.

6. Increased clarity on local regulations

This one is perhaps both a prediction as well as a hope.

Explaining the regulatory landscape in Malaysia, the ChargeSini team shared their concerns over the inspection and SOP guidelines set by Bomba for charging station operations with us.

“While a two-year grace period has been provided, we have encountered challenges due to the lack of clarity in these guidelines. The uncertainty has prompted concerns from our clients, impacting the seamless deployment of EV charging stations on their premises,” they said.

As the industry matures and develops, though, processes are bound to become more streamlined.

And with more streamlined and clearer processes, players in Malaysia’s EV ecosystem, from CPOs like ChargeSini to manufacturers like Proton and Perodua, may stand a better chance to go up against the global giants. 

• Learn more about ChargeSini here.
• Read other articles we’ve written about electric vehicles here.

Featured Image Credit: ChargeSini

The net zero mission is all about sustainability, from how energy is generated to the manner in which it is stored.

As per the International Energy Agency, the world is set to add as much renewable power in the five years starting 2023 as it did in the 20 years prior. Renewable energy adoption is surpassing forecasts and more so than ever, there’s a need for solutions to store this energy sustainably. 

Currently, lithium-ion batteries are the most popular form of energy storage. They are used in all sorts of devices including phones, laptops, and electric vehicles (EVs).

Unfortunately, these batteries leave much to be desired when it comes to the efficient use of energy. They need to be replaced fairly often and lose capacity over time — you might have noticed that your electronics run out of battery quicker after a few years of use. 

In contrast, vanadium flow batteries are an emerging technology which can last a lot longer, up to 25 years, without degradation. Most of the components of vanadium flow batteries can also be recycled and reused.

Making energy storage sustainable

Founded in 2018, VFlowTech is a Singapore-based startup working on the development of vanadium flow technology.

“Although the origins of vanadium flow batteries date back to the 1980s, they encountered challenges such as parasitic losses,” says Dr. Avishek Kumar, CEO of VFlowTech. These challenges limit the efficiency and usability of these batteries.

“To combat such issues, VFlowTech embarked on a mission to redefine this technology, with a clear vision of developing the most competitively priced and scalable vanadium flow batteries globally.”

The company is making strides in improving the performance and sustainability of these batteries, all of which will prove integral if vanadium flow is to become the future of energy storage. 

“Our commitment to safety and environmental friendliness positions our battery technology as a sustainable choice for long-duration energy storage,” Dr. Kumar explains. 

Over time, vanadium flow batteries could benefit a variety of industries, powering grid services, EV chargers, and telecom towers. In line with Singapore’s net zero vision, VFlowTech envisions 30 per cent of the country’s energy needs being powered by vanadium flow batteries by 2050. 

Challenges to vanadium flow adoption

Although vanadium flow batteries offer a number of benefits — beyond the long lifespan, they also have low maintenance requirements and minimise energy loss — there are challenges in scaling up and making them mainstream.

“The upfront expense presents a significant barrier to adoption, particularly for businesses and industries operating within tight budgets,” Dr. Kumar says. The being said, he clarifies that “the total cost of ownership over the lifespan of vanadium flow batteries often proves to be cost-effective”. 

In industries such as automotives, there are a number of operational considerations which also stand in the way of using vanadium flow batteries. “It would necessitate substantial research and development efforts, adjustments in manufacturing processes, and potential updates to infrastructure for charging and maintenance.”

There is also a need to raise awareness about the benefits of vanadium flow batteries. “They are not as widely recognised or understood as more conventional energy storage solutions, such as lithium-ion batteries.”

Dr. Kumar believes that this requires constant engagement with industry stakeholders, policymakers, and the public. Educational efforts will play a key role in accelerating the adoption of this technology. 

Successes so far

To date, VFlowTech has launched a number of real-world solutions demonstrating the use of vanadium flow batteries. In Pulau Ubin, the company has deployed its 1MWh long-duration energy storage system, helping eliminate the use of diesel generators on the island.  

“This is a significant testament that vanadium flow batteries are capable of powering small communities, and we believe that by scaling this technology, we are able to power larger communities and islands like Singapore.”

Beyond Singapore, the company is also involved in rural electrification projects in India and parts of Africa. These involve the storage of solar and wind-generated power in VFlowTech PowerCube units. “Furthermore, our batteries have also been distributed in Japan to help act as a reliable energy backup resource during natural disasters,” Dr. Kumar adds. 

VFlowTech is also making headways in the EV sector, starting with EV chargers powered by vanadium flow batteries. “We are addressing the core of the EV ecosystem, aiming to clean the power source of EVs right from the roots.” 

Chargers offer an ideal way to get a foot in the industry as using vanadium batteries to power the vehicles themselves poses a bigger hurdle. “Because of their low power density, vanadium flow batteries are too large for vehicle application. The primary hurdle lies in reimagining vehicles with flow battery systems instead of the traditional lithium-ion batteries.”

Proving the utility of these batteries through EV chargers could serve as valuable evidence and help convince EV makers to design vehicles using this technology as well. 

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Featured Image Credit: NTU / VFlowTech

Also Read: This S’pore startup is transforming the construction and landscaping sectors with clean energy