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Electric vehicles (EVs) are gaining traction in Singapore, spurred by the arrival of Tesla and rising interest in sustainable transport. Here’s a comprehensive guide on the feasibility, costs, types, and infrastructure of electric vehicles in Singapore.
With rising COE prices, owning a car in Singapore is challenging. However, the appeal of electric vehicles is growing, especially with government incentives like a rebate of up to $15,000 for new EV registrations until 31st December 2024. By 2030, Singapore plans to phase out new registrations of internal combustion engine (ICE) cars, making EVs a forward-thinking choice.
Electric vehicles in Singapore fall into three categories:
This guide focuses on all-electric vehicles, offering insights into their efficiency, range, and charging needs.
Electric vehicle prices are comparable to traditional cars, but long-term costs offer significant savings.
While EVs have a higher annual road tax, they benefit from lower fuel and maintenance costs. Charging a 42kWh battery costs significantly less than filling a petrol tank, and maintenance expenses are reduced due to fewer mechanical parts.
Not ready to buy? Consider renting. BlueSG offers an electric car-sharing service at $0.36 per minute, with membership plans starting from $8 per month.
Singapore’s EV charging infrastructure is expanding, with over 6,000 charging points currently available and plans for 60,000 by 2030. Major companies like Shell and SP are increasing their charging stations across various locations.
Switching to electric vehicles significantly reduces carbon emissions and noise pollution. EVs emit half the carbon dioxide of ICEs, contributing to cleaner air. If all vehicles in Singapore were electric, carbon emissions could reduce by 1.5-2 million tonnes.
Electric vehicles offer substantial long-term savings and environmental benefits. However, the current charging infrastructure still poses challenges. EV ownership is more feasible for those with home charging options. As Singapore progresses towards its goal of 100% cleaner energy vehicles by 2040, the infrastructure will likely improve, making EV ownership more convenient.
Driving electric vehicles in Singapore presents numerous advantages, including cost savings and environmental benefits. While the current infrastructure is developing, ongoing efforts promise a more EV-friendly future. If you’re ready to invest in sustainable transport, now is a great time to consider an electric vehicle.
Key View: We forecast that Singapore''s total electric vehicle (EV) fleet (including plug-in hybrid vehicles, PHEVs) will reach just under 131,500 units by the end of our 2023-2032 forecast period, representing an EV penetration rate of 14.3%. We note that the wealthy population in Singapore could see EV adoption accelerate over the long term as the planned internal combustion engine (ICE) car and taxi sales ban draws near. However, we note that the development of Singapore''s EV charging network will set the pace for EV adoption in the market.
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(Light commercial EVs are all goods vehicles, heavy commercial EVs are buses only)
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