Despite the efforts of police officers and paramedics, Mr Singh was pronounced dead at the scene near the junction with Crowther Street off Cannock Road.
A post mortem was carried out but the results were inconclusive.
Tomasz Margol, 35, has now been charged with murder and appeared at Wolverhampton Magistrates Court on Tuesday.
He was remanded in custody and will appear at Wolverhampton Crown Court on Wednesday.
Detective Inspector Michelle Thurgood, from the homicide team at West Midlands Police, said: “We’ve kept Mr Singh’s family updated with this development as officers continue to support them during this tragic time."
Wolverhampton-based ABC Cars, where Mr Singh worked, set up a JustGiving page in his memory on Monday with the aim of raising £2,000 for his family.
It has already hit its target, with even more donations flooding in at justgiving.com/crowdfunding/anakhsingh
It comes as a taxi boss has paid tribute to Mr Singh, a father-of-two from Wolverhampton who had worked for ABC Cars for the past five years.
The firm says it was a "senseless loss which has devastated his close family and friends".
West Midlands Ambulance Service said it had been called to reports of an assault in Nine Elms Lane on Sunday and found a man in critical condition.
A spokesman for WMAS said: "Ambulance staff administered advanced life support but sadly, despite everyone’s best efforts it became apparent nothing could be done to save him and he was confirmed dead at the scene."
Police are continuing to appeal to anyone with information to come forward.
People can contact West Midlands Police via live chat on the force's website or call 101, quoting log 1516, of October 30.
Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org