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Refrigerated Trucks Could Give Singapore A Startup Advantage in China's EV Market

Updated: Jan 9

A Singapore-based startup, Singauto Technology, is set to gain an edge in the competitive Chinese electric vehicle (EV) market with its fully electric refrigerated trucks.

Electric Cars
Credit: REUTERS

The company plans to unveil its first EV cold storage truck model at an event in Beijing, where it will also announce pricing. Singauto has already secured $20 million in funding from investors.


The Chinese EV market is the largest in the world and Singauto aims to tap into the lucrative niche of cold-chain logistics. Currently, the market is dominated by internal combustion vehicles due to the power consumption of refrigeration, which limits the range of electric versions. Singauto believes it can overcome this challenge and meet the demand for pure electric vehicles, especially with favourable policies restricting internal combustion engine trucks in major cities.


Singauto's new truck, the S1, has already received 20,000 pre-orders, including from Qingdao Linking Fresh Supplying Chain. The vehicle will be equipped with an 85 kilowatt-hour battery supplied by China's CATL, providing a range of 270 km (168 miles) when fully loaded. Singauto plans to outsource the design, engineering and manufacturing of the vehicle to Shanghai Launch Automotive Technology.


The company's founder, Liu Yuqiang, is confident that Singauto's focus on the cold-chain logistics segment gives it a competitive advantage over mass-market EV manufacturers in China. He believes that the efficiency of China's EV industry, which has significantly reduced the development time for new vehicles, will contribute to Singauto's success.

Singauto's investors include Cynergy Global Investment (CGI), a Singapore-registered investment company and TuSimple, a U.S.-listed company with ties to China. Liu has expressed his intention to eventually list Singauto in the United States.

 
  • Singapore startup Singauto Technology aims to enter the Chinese EV market with its fully electric refrigerated trucks.

  • The company plans to unveil its first EV cold storage truck model and announce pricing at an event in Beijing.

  • Singauto has secured $20 million in funding and already has 20,000 pre-orders for its new truck.

Source: REUTERS

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