HSBC announces investment in SP Mobility

On 11 February 2025, HSBC Asset Management (HSBC AM) announced that its Energy Transition Infrastructure (ETI) team has invested in a strategic stake in SP Mobility, a leading EV charging point operator in Singapore.

Having been at the forefront of developing Singapore's EV charging infrastructure, SP Mobility has been operating the nation's largest high-speed EV charging network since 2018. In addition, with Singapore experiencing one of the highest EV adoption rates in Southeast Asia, SP Mobility is set to support the growing demand for electric transport.

The investment marks a strategic partnership between HSBC AM and SP Mobility, leveraging the former's experience in transition infrastructure to explore opportunities for inorganic growth and accelerate expansion for the latter's suite of EV charging solutions, as well as supporting SP Mobility's mission to scale up its EV charging infrastructure and enable green electrification through public and private sector collaborations.

This is HSBC AM ETI's second portfolio company under its APAC-focused, mid-market, value-added energy transition infrastructure strategy, following an investment in Tekoma Energy, a developed Asia renewable energy platform, headquartered in Tokyo.