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Tuesday, May 21, 2024

Banpu NEXT Invests in Oyika, Accelerating Battery Swapping Infrastructure for Electric Motorbikes in Southeast Asia


Banpu NEXT, a subsidiary of Banpu, a leading smart energy solutions provider in Asia Pacific has announced a strategic investment in Oyika, a Singapore start-up that offers battery swap solutions and Battery-as-a-Service (“BaaS”).

Oyika addresses electric motorbike riders’ range anxiety by providing a convenient, fast, and affordable battery swapping service, eliminating long charging times faced by electric vehicles (EV) and the cost associated with owning and replacing batteries. The company’s growing network of battery swap stations in Cambodia, Indonesia, Malaysia and, soon, Thailand is compatible with most of the electric motorbikes on the market, facilitating the transition to sustainable transportation.

This collaboration between Banpu NEXT and Oyika marks a vital step towards a greener and smarter future for electric mobility in Southeast Asia, lowering the barriers to EV adoption and reducing carbon emissions. The investment will help Oyika to accelerate its expansion plans, widen its network of battery swap stations, and boost its BaaS offering across the region.

Sinon Vongkusolkit, Chief Executive Officer at Banpu NEXT said, “We are excited to partner with Oyika, a company that shares our commitment towards Greener & Smarter energy to embrace future trends. Their battery swapping technology and BaaS model can potentially bolster up the EV market and drive the adoption of clean energy transportation in our region. Through this investment, we aim to support Oyika in expanding its footprint in Thailand and Southeast Asia, while also integrating Oyika’s solutions for logistics and transportation into our e-Mobility business.”

Banpu NEXT’s businesses include renewable power generation, energy storage, energy trading, e-Mobility, and smart city & energy management. It positions itself as a long-term partner committing to becoming a Net-Zero Energy Provider for enterprises, providing a total smart energy solution for sustainability to help customers achieve their ESG goals while building up sustainable growth.

“We are honoured to join the Banpu family and eagerly anticipate collaborating with Banpu NEXT in the Thailand market and the surrounding region. Our initial focus will be on the logistics and delivery sectors. This partnership will expedite the adoption of eco-friendly transportation solutions, enabling companies to contribute their part in mitigating climate change while reducing costs,” stated Jinsi Lee, Chief Executive Officer at Oyika.

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