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Last Updated: Apr 25, 2025 | Study Period: 2023-2030
Considering plans revealed by Finance Minister Heng Swee Kiat to promote Singapore's conversion to cleaner energy cars, the automobile industry anticipates an increase in electric vehicle (EV) sales. Electric automobiles in the mainstream market will be taxed similarly to their internal combustion engine (ICE) counterparts, with the road tax bands being adjusted accordingly.
Singapore will speed up the development of its charging infrastructure in the coming decade to better facilitate the growth of electric vehicles. By 2030, the goal is to install 60,000 charging stations in public parking lots and private buildings, up from the prior aim of 28,000.
| S No | Overview of Development | Development Detailing | Region of Development | Possible Future Outcomes |
| 1 | New service EV Co to offer commercial electric vehicles for lease | Leasing electric goods and passenger vehicles is a great way for businesses to accelerate their decarbonization efforts. | Singapore | This would enhance better Technological Controls |
| 2 | A Change to Car-Ownership Rights Could Spur EVs in Singapore | Singapore has ambitious plans to make 100 percent of its vehicles run on greener energy by 2040. | Greece | This would enhance better Technological Controls |
| 3 | Take-up for electric cars jumps, registrations this year already twice the rate | In the first five months of this year, electric cars accounted for 8.4% of all new automobile registrations. | Greece | This would enhance better Technological Controls |
| 4 | Worldâs number one electric vehicle Nissan LEAF arrives in Singapore | The new Nissan LEAF is based on a 100 percent electric drivetrain and boasts innovative technologies to provide great range. | Greece | This would enhance better Technological Controls |
Even during forthcoming years, government regulations to encourage the adoption of electric vehicles and plans to expand the charging stations infrastructures are projected to be major market drivers. Several countries in the ASEAN region have announced plans to sell electric vehicles for a share of their new vehicle sales in the coming decades.
Authorities are critical in promoting the development of electric vehicle charging infrastructure. There must be usage and purchase incentives as the ASEAN nations push for greater car electrification.
Maxus Inc. is a leading mobiliser of the various explorer oriented electric vehicle manufacturer requirements in the market. The Maxus E-Deliver 3 is being highlighted because of the technology that powers it. The year 2021 is setting itself up to be the year when Singapore embraces electrification in a significant manner, with the introduction of an electric commercial light goods vehicle.
The e DELIVER 3 is available with a 35Kw or 52.5Kw battery and a 90KW/250Nm motor, which together produce a range of up to 213 miles/344 kilometers.
EV Co is a leading mobiliser of the various explorer oriented electric vehicle manufacturer requirements in the market. The Strides-DST, an EV Co trademark, will provide professional customers EV leases that incorporate vehicle service programmes and technology services.
Strides-DST provides EV charging access through charger installations at the customer's location as well as access to stations maintained by its partners. It will collect a variety of vehicle data, including real-time location, battery state, and vehicle speed, and use intelligent knowledge to make recommendations.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2023-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2023-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2023-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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