With the Singapore government introducing generous tax incentives and stricter emissions rules, the adoption of electric vehicles (EV) has gone up by 39% in the first 7 months of 2021. This brings the total number of EVs on the road to 1,936 units.
With the EV Early Adoption Incentives (EEAI) offering drivers up to $25,000 in rebates, passenger cars saw a 35% jump to 1,643 units on the road.
This jump was also seen in commercial vehicles in Singapore. The $10,000 tax surcharge on diesel commercial vehicles, together with a $30,000 cash rebate offered to buyers of electric light commercial vehicles, has led to a whopping 141% increase in electric commercial vehicles on the road.
With Singapore’s goal to have all vehicles run on “cleaner energy” by 2040, the EV population growth here is expected to rise.
This will also be helped by new incentives, raising fuel duties, higher surcharges for vehicles with poorer emission levels, more vehicle models being introduced in the coming years, and as the charging infrastructure grows.