EVs move closer to price parity with normal cars as cheaper models enter Singapore

THE entry of smaller, less-expensive electric vehicles (EVs) to Singapore is narrowing the price gap with conventional cars, although industry players say it will be a few more years before true price parity is reached.

While EVs generally remain more expensive than petrol or hybrid passenger cars, new entrants have increased the range of EVs priced below the S$160,000 mark, the current price of a typical mainstream sedan.

On Monday (Jul 3), Chinese mainstream EV brand BYD launched its Dolphin EV compact hatchback – its smallest, cheapest model to date. Its launch price of S$156,888 with Certificate of Entitlement (COE) also makes it the cheapest EV available in Singapore from an authorised distributor.