Charging ahead of the pack
Singapore’s push towards a low-carbon future has placed electric vehicles (EV) firmly at the centre of its transport strategy. Yet for the EV transition to gain momentum, EV charging infrastructure has to keep up.
For local startup Charge+, the lack of charging options was a practical problem that sparked the birth of a business which is now focused on solving it at scale.
Chairman Ong Tze Boon traces the company’s origins to his own experience as a long-time EV advocate. “I’m a big believer in sustainability, and driving EVs is clearly the future,” he said.
But in 2014, he encountered a practical obstacle that many early adopters faced. “There simply wasn’t enough charging infrastructure, and that was how Charge+ was born out of necessity in 2018.”
Designing for Density and Scale
From the start, Charge+ focused on designing its own proprietary EV charger technology. The ultra-slim chargers were built for dense urban environments such as Singapore.
According to Chief Executive Officer Goh Chee Kiong, space constraints in land-scarce cities demand a fundamentally different approach to charger design.
“We developed an ultra-slim dual-gun charger that can charge two EVs at the same time. In cities where space is tight and lots are narrow, this gives us a real advantage. To us, this charger is truly unique and first of its kind globally,” he said.
As its network expanded, the company began laying the groundwork for regional growth from its base in Singapore. Southeast Asia, with its rapidly urbanising cities and rising EV adoption, was naturally the next frontier. But scaling infrastructure at speed required more than technical capability alone.
Financing Growth with the Right Partner
For a young, fast-growing company operating in a capital-intensive sector, access to timely financing was critical.
“As a relatively young company, we have worked very hard to win the trust of customers and partners. But even with a strong foundation, financing is imperative. When DBS came in with timely financing, we were able to keep pace with the market and grow faster. It was a tremendous boost for us as a company,” Goh explained.
That support came in the form of a green loan from DBS, aligned to projects that deliver measurable environmental outcomes. The financing enabled Charge+ to accelerate the deployment of charging points across Singapore and strengthen its leadership position in this fast-growing space.
Today, Charge+ operates more than 4,000 charging points nationwide, making it the market leader locally and positioning it for continued regional expansion.
Ong describes the partnership as a turning point. “What catapulted Charge+ from a startup to a market leader was more than just a clear vision and an innovative product, it was also having the right financial partner that shared our commitment to building a low-carbon future.”
Making a Meaningful Impact
Beyond scale, the environmental impact of Charge+’s work is becoming increasingly tangible. According to Goh, the shift from internal combustion engines to EVs delivers meaningful emissions reductions.
“For every conventional car that converts to an EV, we see about a 50 per cent reduction in carbon emissions,” he said. “Being able to do good while conducting our business is naturally very gratifying for us.”
Just as important has been the strategic value of working with a financial partner that understands both sustainability and sector dynamics. The advisory support and industry insight provided by DBS, alongside financing, have helped the company navigate its next phase of growth with confidence.
As Singapore continues to electrify its transport ecosystem, Charge+’s journey demonstrates how infrastructure providers can align commercial growth with national climate ambitions.
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