Chung Hong-beom (second from left), Hyundai Motor’s SF Innovation Center chief, and Chuah Kee Heng (third from left), CEO of SP Group’s eco-friendly energy division, pose for a photo after a business partnership ceremony at the SP Group headquarters on Thursday. (Hyundai Motor)
Hyundai Motor is set to partner with Singapore’s largest charging company SP Group to lay the groundwork for a Southeast Asian electric vehicle battery subscription service, the firm said Thursday.
On the same day, Hyundai Motor and SP Group signed a business agreement to discover new battery-use businesses in the city-state. The signing ceremony was attended by Chung Hong-beom, Hyundai Motor’s SF Innovation Center chief, and Chuah Kee Heng, CEO of SP Group’s eco-friendly energy division.
SP Group is Singapore’s largest state-run electricity and gas distributor.
“SP has the largest fast EV charging network in Singapore and we are progressively expanding it to establish a highly pervasive and reliable network in order to encourage EV adoption. Through this partnership with Hyundai, we are making low-carbon mobility solutions more accessible to vehicle owners. EVs are a key pillar in SP’s strategy to introduce more low-carbon, smart energy solutions to help achieve Singapore’s sustainability goals,” said Stanley Huang, group chief executive officer of SP Group.
Under the partnership, the two companies aim to establish an innovative electric power ecosystem in Singapore by expanding the supply and charging infrastructure of electric vehicles, researching policies for electric vehicles in the nation and making a virtuous cycle of eco-friendly resources through the recycling of their batteries.
By Shin Ji-hye (firstname.lastname@example.org)