Singapore’s Electric Vehicle Pilot Project an Industry Best Practice, says IDC Energy Insights
02 May 2012
Singapore and Hong Kong – May 2, 2012 – As the price of gas rises higher and pressure to implement environmentally-friendly government and industrial policies increases, the emerging market of electric vehicles looks increasingly more viable as a profitable business model. Details can be found in a recent report from IDC Energy Insights, entitled “Best Practices: e-Mobility — Challenges and Opportunities: A Case Study from Singapore” (Doc # AP9492101U), which examined the electric vehicle (EV) test bed pilot project in the nation-state.
The pilot program, managed by the EV Taskforce and led by members from Singapore's Energy Market Authority (EMA) and Land Transport Authority (LTA), is working to create a complete ecosystem of EV stakeholders. Bosch Software Innovations, for example, is the charging service provider of the EV test bed project.
The IDC Energy Insights report found that a number of critical elements are required to create this EV “ecosystem” including a network of supporting businesses, new technologies, and forward-looking government policies. Key elements of a successful EV ecosystem include:
- Choice of electric vehicle models available
- Choice of charging infrastructure
- Grid integration and pricing model structure
- Backend infrastructure and EV business models
- Incentive models for commercial and personal use
- Choice of EV ecosystem partners
"Singapore is well placed to test emerging technologies”, said Cort Isernhagen, Vice President for IDC Industry Insights – International. “Singapore's technology-savvy consumers, forward-looking government, diverse cross section of industries and world-class infrastructure provide an excellent test bed for innovative electric vehicle business scenarios and models at a significantly reduced risk.”
Although the Singapore e-Mobility project (the EV Test Bed) is not the first in Asia to pilot EV adoption, it is still unique in some aspects.
- It defines the feasibility of EV adoption in a small country with high population density.
- It defines pricing and business models for public charging.
- It outlines the incentive programs required of EV manufacturers and government to speed up the adoption process.
- It looks at the benefits and challenges of EV adoption in a population that is very tech-saavy with high internet usage.
For more information about this report “Best Practices: e-Mobility — Challenges and Opportunities: A Case Study from Singapore” (Doc # AP9492101U), please contact Sheryl Fuertez at +65-6829-7758 or firstname.lastname@example.org. To set up an interview with Cort Isernhagen, please contact Lay Fang Tan at Tel: +65 6829 7731 or Email: email@example.com.
About IDC Energy Insights
IDC Energy Insights provides research-based advisory and consulting services focused on market and technology developments in the energy and utility industries. Staffed by senior analysts with decades of industry experience, IDC Energy Insights covers both the utility and oil & gas segments, providing independent, timely, and relevant analysis focused on key business and technology issues. IDC Energy Insights serves a diverse and growing global client base, including electricity, gas, and water utilities, IT suppliers, independent power producers, retail energy providers, oil and gas companies, equipment manufacturers, government agencies, financial institutions, and professional services firms. For more information, please visit www.idc-ei.com.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community to make fact-based decisions on technology purchases and business strategy. More than 1,000 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For more than 47 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com.
For more information, contact:
Lay Fang Tan
+65 6829 7731