Banpu NEXT Invests in Oyika, accelerating battery swapping stations for electric motorbike in Southeast Asia.
Banpu NEXT, a leading smart energy solutions provider in Asia-Pacific, is intensifying its e-Mobility business by announcing a strategic investment in Oyika, a Singapore start-up that offers battery swap solutions and Battery-as-a-Service ("BaaS"), to expand its services and network of battery swapping stations in Southeast Asia and help drive growing adoption of electric motorbikes.
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.
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 service expansion plans 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 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 total smart energy solutions to help customers achieve their ESG goals while building up sustainable growth.
Jinsi Lee, Chief Executive Officer at Oyika stated, "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."
