Electric Vehicle Registration Rates Double in Singapore

Singapore is striving to end the vehicular emissions in the country and mitigate the climate change challenges. The recent data of electric vehicle registrations of the country reveal that in the first five months of 2022, the country has sold double the number of electric vehicles sold in the entire 2021.

Transport Minister of Singapore, S Iswaran informed that of all new car registrations, electric vehicles was 8.4 per cent. This figure is reassuring as the registration rate in the current year until now is twice the entire 2021 and 20 times than 2020.

The land transport emissions peaked in 2016. It’s on decline since the Singapore government has taken several measures to mitigate – adoption of electric vehicles is one of them. The transport minister believes that the island county will eliminate land transport emissions by over 80 per cent by 2050 as EV adoption will continue to gather pace. Singapore has some of the toughest rules to allow car ownership, due to the need to regulate the total number of vehicles in Singapore to keep traffic congestion at a manageable level. Thus, the purchasing cost includes the price of the car itself as well as the high one time cost for a Certificate of Entitlement (COE), or the right to purchase and own a car. Thus, at some stage, the island state is fully capable of tweaking the rate of adoption of EV’s further or phasing our ICE vehicles.

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For now, Singapore has taken a wide range of measures to enhance electric vehicles sales. Incentives on EV prices and building of charging infrastructure were the most notable. The Transport Minister held that the government looks to create EV charging facilities in car-parking spaces of all 2,000 public housings by 2025. This will help in creating a network of 60,000 EV chargers across Singapore by the end of this decade.

Nissan Leaf, MZ ZS EV, Renault Zoe, Hyundai Kona, Tesla Model 3. Tesla Model S, Porsche Taycan etc are some of the electric car models that are sold to private customers in the island country presently. The government had also formulated a campaign for EV adoption – ‘Power EVery Move.’

A 2021 survey reveals that 58 per cent Singaporeans support the country’s transition towards a future where electric vehicles have a greater role.

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The future of electric vehicles looks robust as all corners of the world are quite positive towards electric vehicle adoption. Recently, a report by Counterpoint Research held that by 2030, one in two cars will have an electric powertrain, i.e., engine, transmission, and driveshaft. The system is expected to support fully electric, hybrid electric and plug-in hybrid electric vehicle technologies in a car.