The Singapore-based startup SingAuto made its debut and unveiled three intelligent new energy cold-chain logistics products in Beijing on Tuesday. Their focus is on providing efficient, reliable and eco-friendly solutions to meet the increasing demand for cold-chain transportation.
Founder of SingAuto Liu Yuqiang said that he decided to set up a company to make new energy intelligent cold-chain logistics vehicles in 2021 after a friend working in catering told him about the increasing demand for fresh food transportation.
His subsequent research shows that the global market size for coldchain logistics is set to reach $239.5 billion with a compound annual growth of 16.1 percent between 2022-28.
He once spent three days and nights with truck drivers to find out the shortcomings of logistics vehicles and decided to develop the SingAuto S1 to provide conveniences for the drivers.
The company outsourced the design of the vehicle to Shanghai Launch Design Co. According to Wang Xun, president of the company, the electric truck has a lowered chassis to give easy access for the driver and increased storage space.
It is equipped with temperature control capabilities and features driving-assist functions. The model also allows online upgrades, Wang added.
The S1, with a length of 5,995 millimeters, has cargo storage capacity of more than 18 square meters. Equipped with a 106 kilowatt-hour battery pack, it has a range of up to 300 kilometers on one charge.
The company plans to provide three ways to charge their models: the fast charging piles can charge from 0 to 80 percent in 40 minutes; a battery-swapping mode can replace a fresh battery in five minutes; and the mobile charger vehicle E1.
Unveiled at the event, the E1 is equipped with two radar sensors, two cameras and eight ultrasonic sensors for obstacle detection. The autonomous vehicle can be called up with an app to provide fast charging for vehicles.
SingAuto also premiered the V1 new energy commercial vehicle. With a range of up to 320 km, it weighs 2.3 metric tons, making it suitable for urban express delivery and long-distance transportation.
Liu said that the company aims to identify a production base to start mass production, work with more than 20 strategic partners and achieve 5,000 orders this year. It is negotiating with several cities about the production site.
Within the next three years, SingAuto plans to establish a global research and development center, have 100 strategic partners and achieve annual sales of 30,000 units.
For the five-year plan, SingAuto plans to explore Southeast Asia, the Middle East, Europe and North America, set up five production bases and achieve annual sales of 50,000 units.
SingAuto is a global brand headquartered in Singapore and has been developed in China with a mission to serve customers around the world, Liu said.
The company didn't disclose information on vehicle prices, but Liu mentioned that they will offer financing and leasing options with installment payment plans, making it easy for drivers to own a SingAuto vehicle.
Investors are showing support to SingAuto's vision. Three investment corporations, including Daeji P&I and Cynergy Global Investment, signed agreements with the company on Tuesday. It also signed agreements with customer companies, including Qingdao Link Fresh, Shaanxi Subida Cold Chain Logistics Co and Qingdao WHC Catering Management Co.