Will lower incentives shake up Singapore’s EV boom?
EV incentives are falling in Singapore this year, will Singapore’s electric car boom still have momentum? Derryn Wong finds out.
Singapore’s electric vehicle story is entering a new phase, and it is no longer just about incentives. Certificate of Entitlement (COE) premiums surged last year, EV rebates have already been trimmed in 2026, and another cut is coming in 2027. On paper, that should cool demand. In practice, the market may have other ideas, as EVs move from early-adopter curiosity to something much closer to the default choice.
In this episode of Transport BT, a podcast of BT Correspondents, host Derryn Wong unpacks why Singapore could still lead South-east Asia in EV adoption this year. Joined by Timothy Wong, principal at Roland Berger and head of its automotive and mobility practice in South-east Asia, the conversation ranges from the flood of new Chinese EV models to the long-awaited arrival of Japanese brands. Along the way, they examine whether consolidation among EV players is inevitable, and why rising COE supply does not automatically translate into cheaper cars.
Why listen
- EVs beyond rebates Why adoption may hold up even as incentives are pared back.
- Japan enters the race What Toyota, Honda and others mean for a market once dominated by Chinese brands.
- Survival of the fittest Which EV players are likely to thrive, and which may quietly disappear.
- The COE reality check Why higher quotas do not guarantee lower premiums.
The EV transition is already reshaping buying behaviour, brand strategies and COE dynamics right now. If you want to understand what 2026 could really look like for Singapore’s car market, this episode offers grounded insight without the hype: Listen Now.
TransportBT is a podcast of BT Correspondents by The Business Times. Join Derryn Wong every month as he breaks down the headlines and the policy moves that affect all things transport. Listen now at bt.sg/podcasts. Got feedback or an idea for a future episode? Drop us a line at btpodcasts@sph.com.sg.
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Written and hosted by: Derryn Wong (derrynwong@sph.com.sg)
With Timothy Wong, principal at Roland Berger and head of its automotive and mobility practice in South-east Asia
Edited by: Emily Liu & Claressa Monteiro
Produced by: Derryn Wong, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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ABOUT THE PODCAST
BT Correspondents brings together some of The Business Times’ most trusted columnists in a single series. Featuring Mark to Market, WealthBT, TransportBT, and PropertyBT, weekly episodes deliver expert analysis and clear perspectives on stocks, wealth, mobility, and real estate. It is essential listening for professionals who want context, clarity, and depth.
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