Yinson Holdings Bhd has invested in Singapore-based Oyika Private Limited, an electric vehicle (EV) battery start-up, to promote electric mobility in South-East Asia.
Oyika works with local e-motorbike manufacturers to adopt their brand-agnostic technology for local use. Oyika uses low-cost, app-based technology and battery swap infrastructure will help drive adoption of EVs in the region. Most e-motorbike brands and models in Southeast Asia are compatible with the start-up’s swappable batteries. Subscribers to the company’s pay-per-use, prepaid weekly, or post-paid monthly plans can exchange low batteries for fully charged ones at any exchange station.
Yinson aims to use the investment for transforming the existing fossil-fuel-dependent mobility system to one that is clean and sustainable.