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.