Soaring COE prices may be roadblock for China EVs in 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.