Electric vehicle (EV) penetration in Singapore has increased significantly,with the Land Transport Authority reporting a total of 24,247 EVs on the road as of November 2024.
This figure represents a staggering 103% increase from the previous year, when just 11,941 electric vehicles were registered. Despite this, electric vehicles are still in the minority, accounting for only 3.69% of the total number of vehicles.
However, this is a significant increase of two percentage points from 2023, indicating that the city-state is gradually moving towards sustainable transport.
In the first 11 months of 2024, 37,580 new cars were registered in Singapore, of which 12,434 were electric vehicles, accounting for 33% of new registrations. This is an increase of 15 percentage points from the previous year, indicating growing consumer acceptance and preference for electric vehicles. The influx of new EV brands from China is also noteworthy, with at least seven brands expected to enter the Singapore market in 2024. During the same period, 6,498 new Chinese-branded electric vehicles were registered, a significant increase compared to the 1,659 registered in all of 2023.
The dominance of Chinese electric car manufacturers is clear, with BYD leading the sales charts, registering 5,068 units in just 11 months, a year-on-year increase of 258%. Following BYD, MG and GAC Aion ranked
second and third with 433 and 293 registrations respectively.
This trend highlights the international status and influence of China’s new energy vehicles, which are rapidly gaining traction in global markets such as Singapore.
The Future of Electric Vehicles: A Global Perspective
Looking ahead, the EV landscape in Singapore will further transform. The A2 tax exemption for most hybrid models will be reduced in 2025 as part of the government’s car emissions reduction tax plan.
This adjustment is expected to narrow the price gap between hybrid and electric vehicles, which may prompt more consumers to choose electric vehicles. Sales of electric vehicles in Singapore are expected to grow strongly as charging infrastructure continues to improve and more consumers embrace sustainable transportation.
The advantages of pure electric vehicles are numerous and compelling. First of all, electric vehicles have zero emissions and do not produce waste gas during driving, which is conducive to environmental cleanliness.
This is in line with global efforts to combat climate change and reduce air pollution. Secondly, electric vehicles have high energy utilization efficiency.
Research shows that generating electricity from refined crude oil to charge electric vehicle batteries is more energy efficient than gasoline-powered vehicles. This efficiency is critical as the world seeks to optimize energy resources.
In addition, the simple structure of electric vehicles is also a significant advantage. These cars run solely on electricity, eliminating the need for complex components such as fuel tanks, engines and exhaust systems. This simplification not only reduces manufacturing costs but also increases reliability and ease of maintenance. In addition, electric vehicles operate with low noise, providing a quieter driving experience, which is beneficial for both drivers and pedestrians.
The versatility of raw materials used in electric vehicle power generation further enhances their appeal. Electricity can come from a variety of major energy sources, including coal, nuclear energy and hydroelectric power. This diversification eases concerns about oil depletion and promotes energy security. Additionally, electric vehicles can play a key role in grid management. By charging during off-peak hours, they can help balance energy demand and improve the overall efficiency of power generation and distribution.
In short, the rise of electric vehicles in Singapore is not just a local phenomenon but part of a global trend in sustainable transportation. The growing presence of Chinese electric vehicle brands in international markets highlights the important role these manufacturers play in shaping the future of transportation. As the world grapples with environmental challenges, new energy vehicles have become the best choice for the international community, paving the way for a cleaner, greener, and more sustainable future. The promise of electric vehicles is more than just a trend; it’s an important step toward ensuring a better future for humanity.
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Post time: Feb-18-2025