Singapore needs a bolder approach to EVs that goes beyond simply offering tax incentives to match ICE cars
04 Jun 2021
The global automotive industry is steadily and rapidly evolving, with Electric Vehicles (EV) being the clear next step forward. With significant work required to combat climate change, as well as changing legislation forcing the hand of car manufacturers, EVs are the future, whether we like it or not. And certainly, many countries (and car companies alike) are pushing boldly ahead with the transition towards EVs.
But, it seem like Singapore is comparatively slow when it comes to the adoption of EVs. During Budget 2021, Finance Minister Heng Swee Kiat announced that additional incentives will be introduced to narrow the cost differential between EVs and Internal Combustion Engine (ICE) cars.
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New PF tax: Interest on PF will be tax-free for up to ₹5 lakh, if employers don't contribute
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During-budgetபோது-பட்ஜெட்5 minute read
In the recent Budget 2021, DPM Heng Swee Keat talked extensively about innovation as a key economic driver for Singapore’s recovery from the pandemic in 2021 and beyond. Creating a vibrant business community will require innovation and disruption, lest they be caught out by the rapidly changing winds of technology and geopolitics.
Singapore’s recovery hinges on innovation because businesses provide not only goods and services but also jobs. If businesses can find unique and better solutions to existing problems in the country and the wider region, they stand a better chance at long-term growth and creating better jobs for their employees.
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