There may be few electric cars on the roads in Singapore at the moment, but experts said that number is on the rise as demand and infrastructure picks up in the region.
Research house Solidiance has forecast that sales of electric vehicles in China will rise to between 2 million and 3 million in 2020, and to 25 million in 2030.
But in the short term, growth in markets such as Singapore is expected to be more tempered.
“It will be a test-bedding type of growth, where certain (vehicle) models that are ready, will start to come in and they will be test-bedded in Singapore. It’s up to the manufacturers when their models will be ready… (whether) they are going to be range extended electric vehicle or hybrid,” said David Chou, MD of evHUB.
Supply of electric vehicles in Asia, as well as the battery-recharging infrastructure required to run them, are still challenges for the industry.
Greenlots is one company that homed in on the battery-recharging business opportunity two years ago - and has seen exponential growth.
Oliver Risse, MD of Greenlots said: “We started this business a little more than two and a half years ago. We started as a Singapore based company to create and develop charging infrastructure for electric vehicles, not only for Singapore, but also for international markets. And this is where we are right now - we have one of the most advanced networks for charging electric vehicles.
“We are doing our market entry in Asia, in Europe, and we are already planning for the North American continent (in) Q1or Q2 next year. So the opportunity is there, you just need to tap into it.”
At the moment, Greenlots has 10 to 15 charging points available in Singapore. The network is expected to expand to over 60 by the end of 2011 on the back of initiatives by the Singapore government.
According to some estimates, there are about 10,000 charging stations globally. That number could reach 5 million by 2015.
And there’s something in the works for those who want to make their petrol-guzzling cars more environment-friendly.
With increasing demand for alternative energy vehicles, evHUB is looking to bring a new option to consumers here in Singapore next year - which is a service to convert combustion engines in existing vehicles to electric.
