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Singapore's latest policy on electric vehicle subsidies

Benefiting from the new tax reduction norms, a number of electric vehicles will be included in the A-class


 

The current specification for the A-Class is a gasoline vehicle with an engine capacity of 1.6 liters, or an electric vehicle with a maximum power output of 97kW (132 hp); the new regulations raise the maximum power output standard for the A-Class to 110kW (150 hp) horsepower, vehicles that benefited include the Hyundai Ioniq and Kona Electric, Kia Niro Electric Short Ranger and Nissan Leaf, to name a few.

 

Taking the current Hyundai Singapore official website as an example, the local price of Kona Electric 5DR in Singapore is 181,888 (about NT$3.81 million), while downgrading from B to A can save 30,000 Singapore dollars, which means the price can be reduced to 151,888 Singapore dollars , the price cut is about 19%.




 

Singapore aims to set up 60,000 EV charging points nationwide by 2030 and completely phase out fuel vehicles by 2040

 

In the past, Singapore was relatively passive on the development of electric vehicles. However, in 2020, the government will increase the subsidies for car purchases and set up electric vehicle charging devices based on the problems of improving the greenhouse effect and climate change. Singapore also aims to completely phase out fuel vehicles by 2040, and recently announced tax reductions on lower-powered electric vehicles, which means, in the era of the gradual popularization of trams, this country is gradually moving towards electrification.


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