The Business Times
business-time-50
SUBSCRIBERS

Soaring COE prices may be roadblock for China EVs in Singapore

google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Thu, Oct 26, 2023 · 05:00 AM
    • Chinese mainstream electric vehicle (EV) brand BYD and its Dolphin compact hatchback on show recently at Waterway Point. BYD's most compact car to date, the Dolphin is one of the cheapest EVs on the Singapore market.
    • Chinese mainstream electric vehicle (EV) brand BYD and its Dolphin compact hatchback on show recently at Waterway Point. BYD's most compact car to date, the Dolphin is one of the cheapest EVs on the Singapore market. PHOTO: BYD SINGAPORE

    CHINA’S electric vehicle (EV) brands that have made inroads into Singapore may find a new obstacle in their way – the currently sky-high certificate of entitlement (COE) prices, industry watchers said.

    China’s BYD has already overtaken America’s Tesla to become the best-selling EV brand in Singapore this year. Taken collectively, however, China’s EV brands are the second most popular, after the stable of German EV brands.

    According to Land Transport Authority statistics, German brands (including BMW and Mercedes) accounted for a combined 1,110 new passenger EVs registered in the first nine months of this year. Chinese brands came in second with 1,080, followed by US brands with 835.

    Electric vehiclesBYDNioteslaSpotlight

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    An artist's impression of Pelican Paradise Group's township project that was designed to include a five-star convention hotel, an 18-hole championship golf course and a hospital, among others.

    Singapore developer in limbo after Timor-Leste scraps major township project

    State-level minimum purchase thresholds push foreign buyers towards higher-value properties, while consent rules and other restrictions further narrow the pool of homes available to them.

    That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think

    Nadiem Makarim (left) has been charged with committing unlawful acts to enrich himself, others or corporations, causing losses to state finances.

    Gojek founder Nadiem Makarim faces 18-year jail demand in Indonesia laptop graft trial

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More