Singapore will launch a nation-wide electric car-sharing program by 2017 which would lead to deployment of charging stations in the country
Singapore: Singapore will
launch a nation-wide electric car sharing program by 2017 which would result in
deployment of 1,000 electric vehicles in the country. BlueSG, a subsidiary of
French conglomerate Bollore Group has signed an agreement with the Economic
Development Board and Land Transport Authority of Singapore to implement the
program. The program will result in deployment charging stations at various
locations in Singapore.
TechSci Research finds out that global electric
vehicle infrastructure market is on the verge of expansion on account of policy
of governments across the globe to promote the use of electric vehicles.
Electric vehicles do not emit greenhouse gases which is the major reason behind
its use. Apart from that electric vehicles can store huge amount of power which
makes the large pool of electric vehicles a virtual power plant. The power from
the electric vehicles can be fed to the electric grid which helps in grid
resiliency. In addition, development of electric vehicles’ technology and
implementation of smart grids will promulgate the penetration of electric
vehicles in the transportation sector, thereby increasing the demand for
electric vehicle infrastructure.
According to the
recent report published by TechSci Research “Global Electric Vehicle
Infrastructure Market Forecast &
Opportunities, 2021”, the market for electric vehicle infrastructure will grow at a CAGR of 27%
during 2016-21. The policy of governments across the globe would provide a huge
impetus to electric vehicle infrastructure market. The initiatives to reduce
greenhouse gases emissions from the transportation sector will drive the market
for electric vehicles which will pose a huge demand for electric vehicle
infrastructure, globally.