An Overview on the Growth of EVs in Singapore
Singapore has seen a substantial increase in electric vehicle (EV) adoption over the past decade. In 2015, the number of electric vehicles was very modest, with only a few hundred registered on the roads. Moving forward to 2024, EVs have become significantly more popular due to a number of reasons such as reflecting a global shift towards sustainable transportation, the number of government policies to lower the entry requirements and the increase in infrastructure to support the EV environment. The total number of electric cars in Singapore had reached 16,738 by May 2024, representing about 2.7% of the total car population (Paul Tan’s Automotive News) (Mothership SG).
Yearly Breakdown of EV Growth
- 2015-2019: During these years, EV adoption was slow, with numbers remaining in the hundreds annually. This period was characterized by cautious consumer interest and the nascent development of EV infrastructure. There was also the lack of government support and infrastructure to properly support middle class owners in owning an EV.
- 2020: The EV population began to rise more noticeably, reaching 1,397 vehicles by the end of the year.
- 2021: EV numbers more than doubled, hitting 3,713 vehicles. This spike can be attributed to government incentives which lower the entry point for new owners and a broader selection of EV models becoming available.
- 2022: By the end of 2022, the count rose to 6,531, marking a significant year-over-year increase as EVs accounted for 1% of the car population.
- 2023: The momentum continued, with EV sales soaring by 218% in the first half of the year. By the end of 2023, the number of EVs nearly doubled again.
- 2024: In just the first half of the year, EVs constituted almost one-third of new car registrations. The total number had grown to about 18,000 vehicles by mid-2024, reflecting a robust 2.7% of the total vehicle population. All this can be attributed to government incentives as well as a exponentially growing EV infrastructure.
Popular Electric Vehicle Brands in Singapore
The most popular EV brands in Singapore include Tesla, Hyundai, and BYD. Tesla’s appeal lies in its advanced technology, extensive range, and strong brand presence. Hyundai and BYD offer a variety of models catering to different market segments, from affordable to premium, making them attractive options for various buyers.
Reasons for Brand Preferences: Singaporean consumers tend to prioritize the following factors when choosing an EV brand:
- Range and Battery Efficiency: Tesla’s long-range capabilities make it a top choice for those who are concerned about the frequency of charging.
- Cost and Affordability: Brands like BYD and Hyundai provide a balance of cost-effectiveness and reliability, making EVs more accessible to a broader demographic.
- After-Sales Service and Support: A strong network of service centers and reliable customer support play a significant role in brand preference.
The Future of EVs in Singapore
The government’s commitment to increasing the number of charging points and extending EV incentives suggests a promising future for electric vehicles in Singapore. With the goal to install 60,000 charging points by 2030, and a growing variety of models available, EVs are expected to become a more common sight on Singapore’s roads in the coming years.
This upward trend in EV adoption highlights a significant shift towards environmentally friendly transportation, underpinned by advancements in vehicle technology and supportive government policies.