Budget 2021: More incentives to encourage early adoption of electric vehicles Toggle share menu
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Budget 2021: More incentives to encourage early adoption of electric vehicles
As part of a move to further encourage the early adoption of electric vehicles, the Government will introduce more incentives to narrow the “cost differential” between electric cars and internal combustion engine cars, announced Finance Minister Heng Swee Keat in his Budget speech on Tuesday (Feb 16). Vanessa Lim with more. 2 related media assets (image or videos) available. Click to see the gallery.
16 Feb 2021 11:40PM) Share this content
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SINGAPORE: As part of a move to further encourage the early adoption of electric vehicles, the Government will introduce more incentives to narrow the “cost differential” between electric cars and internal combustion engine cars, announced Finance Ministe
SINGAPORE - Tesla's Singapore sales portal has gone "live", a day after The Straits Times listed estimated prices of its cars. The site stated that the Tesla Model 3 Performance, a high-powered version of the Model 3, which hits 100kmh in 3.3 seconds, will retail at an estimated price of just under $155,000 before the Certificate of Entitlement (COE). The.
January 29, 2021
The new fourth generation Honda Jazz.
Honda
The new fourth generation Honda Jazz was officially unveiled in Singapore by Kah Motor on 28 January, during a virtual launch event.
The all new Honda Jazz is the first model offered with an e: HEV hybrid powertrain, and it has been well-received in Singapore so far. According to Kah Motor, around 60 per cent to 70 per cent of customers have opted for the Hybrid model since pre-launch bookings started earlier this month.
The e: HEV system is newly developed for the Jazz, comprising two electric motors, a 1.5-litre petrol engine, a lithium-ion battery and a fixed gear transmission. The hybrid powertrain delivers a combined system output of 124bhp and 253Nm of torque.
Why are electric cars so expensive in Singapore?
With global warming and vehicular emissions getting out of hand, electric vehicles are touted as the solution to the world s environmental woes.
But why doesn t everyone change to electric cars? Well, there are a few limitations with range and charging duration as well as availability of chargers. But one of the bigger hurdles has to be their prices. Despite being much more affordable than when they were first available, electric cars remain to be priced substantially higher than their fossil fuel burning counterparts. So, what exactly makes them so expensive?
Battery costs
180 per cent
If you deregister your vehicle within the first 10 years, you are entitled to a Preferential Additional Registration Fee (PARF) rebate, based off a percentage of your ARF value.
Age of vehicle at deregistration
PARF rebate (COE May 2002 onwards)
Not exceeding expectations 5 years
75 per cent of ARF paid
Above 5 years but not exceeding 6 years
70 per cent of ARF paid
Above 6 years but not exceeding 7 years
65 per cent of ARF paid
Above 7 years but not exceeding 8 years
60 per cent of ARF paid
Above 8 years but not exceeding 9 years
55 per cent of ARF paid
Above 9 years but not exceeding 10 years
50 per cent of ARF paid