Yinson Invests in Singapore’s Oyika to Drive Electric Vehicle Adoption in Southeast Asia

Yinson, through its green technology division, believes in Oyika’s affordable, application-based solution and battery swap infrastructure

by S BIRRUNTHA / Pic Source: Oyika

YINSON Holdings Bhd has invested in Singapore-based electric vehicle (EV) battery start-up Oyika Pte Ltd to accelerate the adoption of electric mobility (e-mobility) in Southeast Asia.

Yinson, through its green technology division, believes in the affordable solution based on Oyika’s applications and battery exchange infrastructure to drive the adoption of electric vehicles in the region.

The objective is in line with the group’s net zero carbon ambitions.

“Southeast Asia is the world’s largest motorcycle market, with motorcycles accounting for up to 85% of the fleet in countries like Indonesia and Vietnam, the two largest motorcycle markets in the region. .

“And less than 0.1% of them are electric. Each heat engine motorcycle on the road replaced by an electric motorcycle saves around one tonne of CO2 equivalent per year.

“Thus, a significant reduction in carbon emissions can be achieved through the introduction of such EV solutions,” Yinson Group Executive Vice President (Business and Technology) Eirik Barclay said yesterday in a statement.

The company pointed out that Oyika is working with local electric motorcycle manufacturers to adopt their brand-independent technology for local use.

Oyika’s exchangeable batteries work with most brands and models of electric motorcycles in Southeast Asia.

Subscribers to its weekly pay-per-view, prepaid, or monthly postpaid plan can swap depleted batteries for fully charged batteries at an Oyika exchange station in one minute.

Barclay said Yinson aims to create a path for electric mobility to become an integrated way of life, transforming the current fossil fuel-based system into a clean and sustainable one.

Yinson Group Strategy Director Daniel Bong said the investment, along with the The recent investment in autonomous and driverless solutions company MooVita Pte Ltd, presents the first step in its roadmap towards building an integrated green logistics solution.

“Yinson is investing in green technologies to help alleviate global climate problems.

“We believe that being the pioneers of future technologies and capitalizing on strategic partnerships with the public and private sectors are important to continuously deliver lasting value to our stakeholders,” he said.

Meanwhile, Oyika CEO Jinsi Lee said the company will leverage Yinson’s resources and global network to deliver affordable electric vehicle solutions to developing countries.

“We look forward to rolling out Oyika’s subscription plans for electric vehicles, not only to lower the cost for drivers, but more importantly, to help mitigate climate change,” he said. declared.

Oyika could further develop its technology and strengthen its market position in Southeast Asia with the support, network and experience of Yinson in logistics and energy solutions.

Oyika’s main strength in technology development is also in synergy with Yinson’s green technology investment plans in Malaysia.

Oyika has rolled out its electric motorcycles in Cambodia and Indonesia, with launch plans in Malaysia, Thailand and Vietnam.