DBS, AETOS to transform 42 operational autos to EVs by 2026


DBS Bank and security company AETOS today (June 4th) announced the launch of Singapore’s first electric vehicle (EV) for cash and valuables escort (CVE) services.

The two companies have committed to converting all 42 company vehicles used by the bank to electric vehicles by 2026, starting with seven CVE vehicles by the end of 2023.

CVE vehicles are used to transport company money from the DBS / POSB branches to a cash processing center. On average, a CVE vehicle drives more than 170 km a day, according to the bank.

By switching to electric vehicles, carbon dioxide equivalent emissions (CO2e) can be reduced by up to 47 kg per day or around 17,100 kg CO2e per year.

This move is in line with the government’s plans to phase out internal combustion engine (ICE) vehicles and encourage the adoption of electric vehicles by 2040.

Image source: DBS Bank

Shee Tse Koon, DBS Singapore Country Head, commented on the partnership: “As part of our commitment to sustainable development, we have encouraged partners in our ecosystem to adopt practices to reduce carbon in addition to reducing our own footprint.”

“We are pleased to work with a partner like AETOS who has taken concrete and comprehensive steps to reduce CO2 emissions and shares our vision for a better, more sustainable future.”

On its way to the introduction of electric vehicles, AETOS will install charging infrastructure at its various operating locations, starting with the first alternating current charging station (AC) at its location on the west coast.

Each station is capable of fully charging a CVE electric vehicle in less than eight hours.

“As part of our sustainability efforts, AETOS strives to achieve a climate-neutral operation with the parent company Surbana Jurong. We firmly believe in working to protect the environment for future generations. We are excited to partner with DBS who support our long-term goal for sustainability, ”said Alfred Fox, Executive Director & CEO of AETOS Holdings.

Electric vehicles is an important pillar of content for Vulcan Post. The rest of our EV coverage can be found here.

Highlighted image source: DBS Bank




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