Leasing Segment Forecast for 2023/24

  • SEV will grow existing fleet by 300+ to 800 vehicles by Q4 2024. Demand for larger number of Evs expected to rise significantly to replace current combustion PHV/Taxi due to Singapore’s Green Plan . 
  • SEV will also add at least 350 units of Aion to the existing fleet.

EV Leasing

Comparison of Electric cost for BYD e6 and Petrol cost for Toyota Prius (Hybrid)

Electric cost S$0.5/kWh
Petrol cost $3.30/Litre

EV Van Leasing

SEV diversifies into leasing of EV vans/lorries.

Distributor for Sokon. 

EV Vans/lorries are economical tools for drivers, logistics and SMEs to reduce cost compared to an internal combustion Van (ICE van)

1,200 units of Sokon EC35/EC31 purchased for sales and leasing and are delivered to Singapore in batches.

EC35 is proven to be the Top selling Van in China for over the last 5 years.

Charging Stations Segment Forecast for 2023/24

  • MOU signed with strategic partners comprising of CPO, charger owners and car park owners to build and co-share existing chargers, and to co-invest to build more chargers island-wide. Currently SEV own 50 chargers. (Quantity to increase from 50 to 200 by end 2024).
  • Partnership enable all partners to leverage on each others’ strength, creating bigger revenue for all partners. Additional charging stations will contribute to an increase of revenue.
  • In-house chargers at Ubi will still subscribe to a fix rate for unlimited charging, currently set at $22/day

Awarded Distributorship for Aion in Aug 2023

  • Supply to own fleet expansion to more than double of current quantity
  • In talks with SG’s top taxi company to supply vehicles to convert existing fleet to Evs.
  • Aion Specification

Commercial Vehicle Sales Forecast for 2023

  • Ordered and delivered 250 Sokon vans as at end of 2023
  • Van sales forecasted at additional 250 units by end of 2024 for leasing
  • Implementation of a Smart Mobile Application which includes remote vehicle key and live tracking
SEV’s COO, Mr Steven Kwek, briefed Ms Josephine Teo, Minister of Communications and Information of Singapore, about SEV-NUS AI program
Prof. Shah Kwok Wei, Assistant Professor and Director of the Built Environment, College of Design and Engineering, NUS.

SEV Collaboration with NUS

  • Singcharge, wholly owned by SEV, collaborates with the National University of Singapore (“NUS”) to develop a blockchain application. It collects data on drivers’ charging behavior and their driving and fatigue management which is used for energy efficient control. It is a patented to SEV

  • This patent involves 5G Skynet Smart Car Cameras. Cars use hardware camera device to transmit real time videos via 5G networks to the internet cloud. Videos are stitched together to form a real time visual of the road and traffic conditions. It includes the geo-tagging of AI detection of potential road dangers posed by possible accidents and traffic conditions. The AI detected dangers are shared in real time with all cars within the vicinity and alps accessible throughout the global internet with permission

  • SEV also collaborate with NUS on 5G IoT and Big data, first data centre to complete by Q4,2023

Battery-Swap Station (BSS)

  • We work with LTA and other partners to set up 3 BSS and 12 battery-swap vans. to be deployed for transporting batteries for swaps.

  • The battery swapping process takes 20 seconds, providing convenience and time saving for users.