Consumer watchdog seeks feedback on proposed sale of EV charging firm ChargEco to SP Mobility
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SP Mobility and ChargEco said that the proposed deal would not substantially reduce competition in the market.
PHOTO: ST FILE
Follow topic:
- SP Mobility wants to acquire ChargEco, both major EV charging providers in Singapore, prompting a review for potential anti-competitive effects.
- CCS seeks public feedback by Jan 16 on the deal's impact on EV charging availability, pricing, quality, and location convenience for users.
- SP Mobility and ChargEco claim the acquisition won't reduce competition due to operator bidding and easy switching for EV drivers/landlords.
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SINGAPORE - Electric-vehicle (EV) charging service provider SP Mobility is proposing to take over competitor ChargEco, and the consumer watchdog is seeking views from the public, including drivers of EVs.
In a media statement on Jan 2, the Competition and Consumer Commission of Singapore (CCS) said SP Mobility and ChargEco have submitted a joint application to determine if the transaction would be anti-competitive.
If the acquisition is approved, SP Mobility will take over ChargEco’s business, which includes EV chargers in publicly accessible places like HDB carparks, shopping malls and other commercial buildings, as well as private chargers.
According to the latest statistics from EV-Electric Charging (EVe), the Land Transport Authority (LTA) subsidiary responsible for the roll-out of Singapore’s public EV charging network
SP Mobility is part of utilities provider SP Group, while ChargEco is a joint venture by SMRT subsidiary Strides Mobility and YTL PowerSeraya.
In their application to the CCS, SP Mobility and ChargEco said the deal would not lead to a substantial lessening of competition. They cited the numerous existing and potential companies offering public and private EV charging points as one of the reasons.
Another reason, they said, was the requirement that operators bid on contracts. In particular, LTA and EVe use a tender system for government sites, such as HDB carparks, which ensures competitive pricing and service quality.
At the same time, the companies said that EV drivers and landlords can easily switch between charging operators, noting that the drivers are not locked to specific points and can access various locations based on what is convenient.
As part of the evaluation process, the CCS is inviting public feedback on the proposed transaction from 5pm on Jan 2 to Jan 16. Specially, the statutory board under the Ministry of Trade and Industry wants to understand:
How individual EV drivers choose charging locations and whether the network is well distributed geographically.
Whether private and public EV chargers are viable alternatives to one another in terms of factors such as pricing, reliability, convenience and charging speeds.
Whether chargers in HDB carparks and non-HDB carparks are considered to be interchangeable by users.
The potential impact of the deal on the availability, pricing, quality and number of EV charging points.
Feedback can be submitted using the official online form or e-mailed to ccs_consultation@ccs.gov.sg
SP Mobility and ChargEco were among five EV charging operators
The proposed transaction comes after TotalEnergies, which is another EV charging operator with a substantial network, announced in November 2025 that it was shutting down its EV charging operation and transferring the charging points to other operators.
In response to The Straits Times, an SP Mobility spokesperson said the operator did not have any details to share as the proposed transaction was going through the CCS’ consultation process, and added: “SP Group aims to support Singapore’s electrification goals and offers a reliable, accessible network for all EV drivers.”
A ChargEco spokesperson said the company has contributed to Singapore’s EV charging network, and the proposed transaction would enable it to pursue its “next phase of development” and continue to serve its customers well.
