Electric Vehicle Adoption Is Increasing and Looks Promising in Singapore

Singapore's electric vehicle (EV) population has more than doubled from 2020 to 2021. In 2020, there were 1,397 electric vehicles in Singapore which increased to 3,713 vehicles in end-2021. The increase in EV adoption is spurred by the government incentives provided to people who will buy EVs. 

The EV Growth and Government Incentives

The EV growth spurt has largely been driven by a sharp increase in the number of electric cars in the second half of 2021. The Ministry of Transport is providing $30 million in rebates to encourage car and taxi owners to switch to electric vehicles (EVs). The scheme will be available until December 31, 2023. Buyers of fully electric cars and taxis will get a rebate of up to 45 percent on their registration fees.

 

EV cars and even motorcycles could even reach parity within the next 2-3 years that would be in line with the government's sustainability goals.

 

The Singapore Green Plan 2030

The Singapore Green Plan sets a 2030 target to have all vehicles run on cleaner energy. The government needs to put massive efforts to drive the adoption of electric vehicles (EV). Industry players need to establish a national EV charger network.

 

SMRT Corporation, a leading multi-modal transport operator in Singapore, is moving towards cleaner, greener transportation. The company’s taxi fleet is now fully hybrid and it is planning to change it entire taxi fleet to electric vehicles in the next few years. SMRT is establishing charging infrastructure for electric taxis and cars in Singapore. SMRT has also partnered with SP Group to push for an ecosystem of connected electric services.

 

Commenting on the green transportation plans, SMRT CEO, Neo Kian Hong, said: “Sustainability is a key aspect of our growth strategy. In line with the Singapore Green Plan 2030, our Roads Group, through its Strides Mobility brand, is committed to provide best-in-class mobility solutions with the lowest carbon footprint. Through both Mobility-as-a-Service and Electrification-as-a-Service, we intend to bring charging infrastructure and a diverse fleet of electric taxis, cars, vans, limousines, motorcycles, and buses to meet the evolving needs of a diverse local and regional market.”

 

As the EV adoption increases, Singaporeans will need more charging stations. The government has decided to install 60,000 charging points island wide, which comprises 40,000 chargers at public car parks and 20,000 chargers at private premises.

 

Transport Minister S. Iswaran said: “The Land Transport Authority will continue to monitor EV adoption trends and accelerate the deployment of our EV charging network where necessary to meet our 2030 target of 60,000 charging points island wide."


Conclusion

There has been increased interest in owning electric vehicles (EVs) from a wide range of customers in Singapore. Motor traders believe 2025 may be the year when the adoption of EV cars will shift into high gear. However, to ensure people buy electric vehicles, the government and industry players like SMRT need to work together to achieve the Singapore Green Plan 2030 target.

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