An EBOOST charging point in HCM City. (Photo courtesy of the firm) SEACEF’s investment in EBOOST, whose value has not been disclosed, will fundthe deployment of EV charging installations in Vietnam and provide safe andaffordable EV charging services to Vietnam’s early EV adopters.
EVs are becoming more popular in Vietnam as they help accelerate thedecarbonisation of Vietnam’s transportation sector, which accounts for 25% ofthe country’s CO2 emissions, according to a World Bank report.
However, the absence of EV charging infrastructure is cited as a criticalfactor holding back the pace of EV deployment in Vietnam and elsewhere inSoutheast Asia.
EBOOST, founded in 2020, is the first operator in Vietnam to provide chargingservices for EV vehicles of all brands. By the end of 2022, it will operatemore than 700 charging points across Vietnam and plan to double this numberthis year.
Stefan Kaufmann, Founder and CEO at EBOOST, said: “We at EBOOST are veryexcited to move ahead with SEACEF and to continue supporting Vietnam'sdecarbonisation. It enables us to accelerate our mission of building smart EVinfrastructure across Vietnam and offering our charging service to as many EVusers as possible.”
Joshua Kramer, Chief Investment Officer at Clime Capital, said: “The accelerateddeployment of EBOOST’s open network EV charging infrastructure has thepotential to create a virtuous cycle to drive EV adoption, which could, inturn, supports further deployment of EV charging infrastructure.”
In July last year, the Vietnamese Government approved an action plan to reducecarbon emissions in transportation as part of the country’s wider strategy toachieve net-zero emissions by 2050. The strategy is committed to graduallyreducing the manufacture, assembly and import of fossil-fuelled vehicles.
By 2050, all transport will run on electricity or another form of green energy,such as hydrogen power.
To realise its goals, a substantial investment is required in all parts of thetransport ecosystem, including a network of electric vehicle chargingstations./.
VNA
