Singapore’s growing electric vehicle market
Published 23 July 2024
Electric vehicles play a crucial role in Singapore’s plan for decarbonizing transportation and achieving net-zero goals, says Dean Cher, SP Group’s Head of Mobility, Sustainable Energy Solutions.
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Electric vehicle (EV) sales in Singapore have surpassed 30% of new car sales in recent months, largely driven by the influx of mass market EVs from China. In line with the government's decarbonization strategies, the registration of new diesel taxis and cars will cease by 2025, and the sale of internal combustion engine (ICE) vehicles will be banned by 2030, with a complete phase-out by 2040. The next decade is expected to see a significant rise in EV adoption, especially Chinese EVs due to their competitive pricing. Unlike the United States, which has restricted Chinese EVs imports, Singapore and other Southeast Asian nations continue to welcome them, Dean Cher said.
About the NPF International Trade Fellowship 2024
The National Press Foundation holds an annual International Trade Fellowship workshop for journalists, sponsored by the Hinrich Foundation. This year, the Foundations welcomed 25 Asia-based journalists at the Hinrich Foundation’s office in Singapore. The sessions, held in June, focused on the impact of US presidential elections on trade, digitization of trade, Asia’s evolving role in global trade, and more.
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