Singapore should maintain or improve EV incentives to meet clean-transport goals: analysts
TAKE-UP rates of passenger electric vehicles (EVs) continue to grow in Singapore, thanks to government incentives – but these will need to be extended beyond their end-2023 expiry dates, or even improved, if the Republic is to achieve its clean-transport goals, say industry watchers.
Electrified passenger cars – which encompass battery EVs, petrol-electric hybrids and plug-in hybrids – made up a total of 56.9 per cent of new passenger car registrations in the first six months of 2023. However, the take-up of EVs was flat with 1,892 EVs registered, accounting for 14.3 per cent of new car registrations.
Although the EV population is now at a record high of 8,390 cars, EVs make up only 1.3 per cent of the total car population.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Stocks to watch: NetLink NBN Trust, Centurion, No Signboard
Haidilao restaurant operator Super Hi prices US IPO at US$19.56 per share
Chinese EV giants hammered by Biden tariff are welcome in Brazil
Hong Kong’s shaky crypto ETF debuts dent global hub aspirations
OpenAI, Reddit sign partnership on ChatGPT, AI products, ads
US Fed officials suggest interest rates should stay high for longer