TotalEnergies sues Charge+ over sale of EV charging assets

The defendant says it refused to proceed with the deal because BlueSG – which accounted for more than 95% of the claimant’s revenue – was alleged to not be a going concern

TotalEnergies Charging Services Singapore has sued fellow electric vehicle (EV) charging operator Charge+ over an asset purchase agreement, seeking damages to be assessed.

In its statement of claim filed on Sep 25, the EV charging network operator of French integrated energy company TotalEnergies said that Charge+ was to purchase its various EV charge points, inventory, related contracts, and the rights and licences to operate those charge points.

But the buyer repudiated the asset purchase agreement dated May 5, TotalEnergies alleged, causing loss and damage.

Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.