EV solutions provider Watt launches Singapore’s first EV charger subscription plan alongside its EV management solution Watt360. Property managers of condominiums can earn up to S$3,500 annually for every EV charger they own.
Watt360’s end-to-end EV charger management solution addresses the needs of property owners and EV drivers alike. It takes care of all aspects of EV charging such as EV hardware set-up and management, customer service support, administrative matters, billing and technical matters. Watt seeks to revolutionise the EV charging landscape by making it easy, convenient and profitable for properties to install and manage EV chargers.
A monthly subscription plan helps residential property owners defray initial installation costs. Property owners subscribe to EV chargers from S$200 a month for 36 months, while enjoying shared profits with Watt. After 36 months, the property gains full ownership of the EV chargers and enjoys the full profits of up to S$3,500 annually per charger.
A key concern of facility managements is retrofitting chargers, as existing electrical load of properties may be insufficient to support EV chargers. In such cases, upgrading may cost more than the charger itself. Watt avoids this through its dynamic load balancing system which optimises existing charging loads to safely balance and distribute power to all charging vehicles. Properties can safely and easily increase the number of charging points in parking spaces without increasing the electrical load.
Watt is a joint venture by The Wheelers Auto, Optimum Auto Trading and Infinity Core. Founded in 2022 by a team of experts in the automotive, tech and finance industries, Watt identified a gap in the local EV market where existing EV charging providers were focussed primary on hardware and less on providing a holistic and seamless solution for customers. The young start-up achieved LTA’s authorisation within three months of its inception in October 2021. It is now one of nine approved Electric Vehicle Charging Operators (EVCO) vendors in Singapore. Watt has also consulted with numerous facilities to successfully install EV chargers at commercial and residential buildings.
Watt also partnered with Wallbox, a NYSE-listed global company valued at USD1.5 billion and founded by Enric Asunción and Eduard Castañeda in Barcelona, Spain. The partnership sees Wallbox providing their award-winning EV chargers, while Watt focuses on building an integrated EV charging network in Singapore.
