APAC's EV Charging Market Attracts Major Oil Players Amid Diversification Push

Big Oil companies are diversifying into the electric vehicle (EV) charging market to stay relevant in a clean energy future. The Asia-Pacific region is a particularly attractive investment opportunity due to its growing populations, developing economies, and need for affordable energy sources. Companies such as bp, Indian Oil, PetroChina, Shell, Sinopec, and TotalEnergies are investing in EV charging infrastructure to meet the new gap in the market. Oil demand will peak, forcing companies to diversify their portfolios.

Big Oil companies are increasingly diversifying into the electric vehicle (EV) charging market to remain competitive in a clean energy future. The Asia-Pacific region, with its growing populations and developing economies, presents a lucrative investment opportunity due to its need for affordable energy sources. Companies such as bp, Indian Oil, PetroChina, Shell, Sinopec, and TotalEnergies are investing in EV charging infrastructure to capitalize on this new market gap.

One notable partnership in this region is the collaboration between Charge+, one of the largest EV charging companies in Southeast Asia, and Chinese EV maker XPENG. The strategic partnership aims to enhance long-distance driving capabilities for EVs by building a network of high-powered supercharging hubs across Southeast Asia. This initiative will see at least 20 Direct Current (DC) supercharging sites across Singapore, Malaysia, Thailand, and Indonesia, with power ratings of up to 480kW DC, capable of delivering a charge from 10% to 80% in as little as 12 minutes CHARGE+ and XPENG Partner on EV Charging in Southeast Asia^[1].

The first phase of this partnership has already seen four supercharging sites ready to serve EV drivers, including Royal Square Novena in Singapore, Downtown East in Singapore, KL Eco City in Kuala Lumpur, Malaysia, and One Bangkok in Thailand. For instance, KL Eco City, a prominent mixed-use development in Kuala Lumpur, features six ultra-fast charging points that can deliver up to 350kW DC charging speed, making it the fastest EV charging station in the city CHARGE+ and XPENG Partner on EV Charging in Southeast Asia^[1].

In the second phase, both companies will expand this supercharging network in existing countries and introduce it to other Southeast Asian countries such as Indonesia. The network will be deployed at high-traffic locations including commercial hubs, retail malls, and highway rest stops across the region. This partnership is highly synergistic with Charge+’s ongoing implementation of an EV charging highway that spans 5,000km across five Southeast Asia countries CHARGE+ and XPENG Partner on EV Charging in Southeast Asia^[1].

Meanwhile, Jupiter Electric Mobility, part of the Jupiter Group, is also making significant strides in the battery storage market. The company launched 10-foot and 20-foot containerised Battery Energy Storage Systems and plans to export its first 20-foot battery system to Africa in October. Furthermore, Jupiter Electric Mobility is expanding its Indore facility's production capacity to 5 GWh annually from the current 1 GWh annually to support growing commercial and industrial (C&I) and utility market demand Clean energy push: Jupiter Group enters battery storage race, first mega export to Africa next month^[2].

These developments indicate a broader trend of Big Oil companies diversifying their portfolios to stay relevant in a clean energy future. By investing in EV charging infrastructure and battery storage solutions, these companies are positioning themselves to meet the growing demand for affordable and sustainable energy sources in the Asia-Pacific region.