Singapore Clears EV Charger Merger with Price Commitments

A Merger Under Scrutiny

The Competition and Consumer Commission of Singapore (CCS) has identified certain competition concerns regarding the proposed acquisition by SP Mobility Pte. Ltd. of Strides YTL Pte. Ltd., which operates under the name ChargEco. Following discussions with the parties involved, and after receiving a set of binding commitments from SP Mobility, the CCS has now cleared the transaction on a conditional basis.

The Source of Concern

Feedback received during the CCS’s first public consultation, conducted in early January of this year, suggested that the merger might raise competition issues. The concern stemmed from the fact that both companies provide electric vehicle charging points at Housing Development Board carparks located in the East region of Singapore. Prior to the proposed transaction, the two operators had been competing against each other in that specific area.

This overlap arose from a large-scale tender, known as TD116, which was awarded in November 2022. That tender represented the first major rollout of EV charging points at HDB carparks across Singapore. Under the terms of that tender, both SP Mobility and ChargEco were awarded contracts for different parts of the East region; for instance, HDB estates in Bedok and Tampines fell under their respective zones.

The Offered Commitments

In response to the competition concerns raised by the CCS, SP Mobility offered a set of commitments relating specifically to the East region HDB EV charging points awarded to both companies under the TD116 tender.

First, SP Mobility has undertaken to ensure that the EV charging prices offered by the two companies would not exceed their pre-transaction competitive levels. The only exception to this rule would be under certain limited circumstances, such as the pass-through of regulatory costs outside the company’s control or expenses arising from extraordinary events that require equipment repair or replacement.

Second, any discount or rebate schemes offered to EV drivers must not be applied in a discriminatory manner. In practical terms, this means that EV drivers cannot be disadvantaged solely because they happen to be using the charging services in the East region of Singapore.

Duration and Oversight

The commitments will remain in effect for a period of three years, starting from 28 May 2026. During this time, SP Mobility has also undertaken to notify the CCS of any price adjustments at the parties’ East region HDB EV charging points. This obligation exists alongside an existing contractual requirement to notify the relevant tender authority.

If the CCS suspects that the commitments are not being complied with, it may request that SP Mobility appoint a monitoring trustee to oversee compliance.

After evaluating feedback submitted by third parties and members of the public during a second public consultation exercise held between 30 March 2026 and 13 April 2026, the CCS determined that the proposed commitments were sufficient to address the competition concerns it had identified. Accordingly, the commission has approved the proposed acquisition, conditional upon SP Mobility implementing and complying with the commitments as offered.