The Business Times
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OUTLOOK 2026

Rebate cuts won’t hurt Singapore’s momentum as South-east Asia’s top EV market in 2026

The Republic’s EV take-up is expected to rise due to a continued price advantage and new benefits for electric heavy vehicles

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Derryn Wong

Derryn Wong

Published Mon, Dec 15, 2025 · 07:00 AM
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    • Observers say that the price advantage of electric vehicles in Singapore will continue to be as much as S$50,000 cheaper than petrol-powered ones.
    • Observers say that the price advantage of electric vehicles in Singapore will continue to be as much as S$50,000 cheaper than petrol-powered ones. PHOTO: DERRYN WONG, BT

    [SINGAPORE] The Republic’s electric vehicle (EV) adoption rate should continue to grow in 2026 despite a cut in incentives for passenger EVs, say industry observers.

    Passenger EV sales will be driven by cost-effective China models and increased competition among such brands, and supported by a growing charging network and higher surcharges on petrol-driven cars.

    In the commercial sector, take-up should also be boosted by new incentives of up to S$40,000 for electric heavy vehicles (EHVs).

    Electric vehiclesAutomotiveCarsOutlook 2026AseanSouth-east Asia

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