CHARGE+ surpasses 4,000 EV charging points in Singapore with DBS-backed expansion

CHARGE+ has exceeded 4,000 electric vehicle charging points across Singapore, supported by a S$21 million green loan from DBS Bank. The milestone places the company as the largest EV charging operator in the country, as infrastructure deployment accelerates alongside national electrification targets.

The expansion builds on financing secured in 2024 under the Enterprise Financing Scheme – Green. CHARGE+ was the first EV charging company to receive support under the programme, using the funding to scale its network across residential and commercial locations.

Network growth across public and private housing

The company has concentrated its rollout across both public and private residential segments. It now operates more than 2,000 charging points across four of Singapore’s five HDB zones, alongside about 1,700 charging points in around 300 condominiums.

This dual focus has positioned CHARGE+ as the operator with the highest number of charging points in both HDB and condominium segments. The network is supplemented by installations in shopping malls, commercial buildings, and industrial sites, extending access beyond residential use.

CHARGE+ has also built out its fast charging infrastructure, with almost all units rated at 120kW and above. These installations are designed to reduce charging times while improving availability in high-traffic locations.

Financing and partnerships support rollout

The company’s expansion has been supported by a mix of debt and equity financing. In 2024, CHARGE+ completed a Series A funding round, raising US$8 million in equity. The DBS-backed S$21 million debt programme has since strengthened its capital base, with a Series B round planned in 2026 to raise an additional US$20 million.

Alongside infrastructure deployment, CHARGE+ has introduced incentives to encourage EV adoption. A partnership with DBS Bank and yuu Rewards Club offers up to 18% cash rebates for charging through selected DBS and POSB cards.

Goh Chee Kiong, CEO of CHARGE+, said the financing had strengthened the company’s ability to expand charging infrastructure and support Singapore’s transition to electric mobility. DBS positioned its support as part of a broader effort to back businesses contributing to sustainable transport and infrastructure development, according to Chen Ze Ling, Group Head of Corporate and SME Banking.

Regional expansion tied to infrastructure buildout

Beyond Singapore, CHARGE+ is extending its footprint across Southeast Asia. The company operates in markets including Malaysia, Thailand, Vietnam, Indonesia, and Cambodia, with more than 5,000 charging points deployed regionally.

Part of this expansion includes the development of a 5,000km EV charging highway connecting Singapore to Hanoi. The project is positioned as a backbone for cross-border electric mobility in the region.

CHARGE+ has set a target of deploying 30,000 charging points globally by 2030, with Southeast Asia forming a central part of its growth strategy.