Boustead, Evotion Labs to launch EV battery swap stations in Singapore

Users can quickly exchange depleted motorcycle EV batteries for fully charged ones.

Boustead unit, Boustead Funds Management (BFM), has signed a memorandum of understanding (MOU) with Evotion Labs to explore the deployment of Evotion Labs' motorcycle EV battery charge and swap stations at properties managed by BFM in Singapore.

The partnership aims to enable users in Singapore to quickly exchange depleted motorcycle EV batteries for fully charged ones in less than a minute through multiple stations.

Evotion Labs’ first two stations are located at Mah Pte Ltd’s headquarters and Razer SEA HQ.

On 31 May, Evotion Labs launched Singapore’s first TR25-approved battery charge and swap service in collaboration with Nasdaq-listed NIU.

By the end of 2024, Evotion Labs will introduce 22 battery swap stations, with plans to expand to 400 stations over the next two years.