to have 100% of the vehicles on its roads powered by cleaner energy by 2040 and EVs will obviously have to be a big part of that. But what most people outside of Singapore probably don’t know is that owning a car in the city-state, electric or otherwise, is very expensive.
The price of a COE fluctuates, depending on demand. Auctions are held twice a month and the certificates are divided into five categories depending on engine capacity and vehicle use. A Tesla Model 3, for example, costs around S$77,990 , excluding taxes, in Singapore but a COE for the car is around S$90,002, more than the car itself. A Tesla Model 3 in the U.S. starts at about US$48,190 by comparison.
Now, instead of paying S$90,002, the COE drops to S$68,699. Of course, these prices will vary at auction but it’s a move authorities in Singapore hope will entice more consumers to make the switch when it comes to replacing their aging combustion engine car. According to local media reports, the change will double the number of electric models that fall within category A to 20, from 10.Another issue Singapore needs to tackle in tandem with EV purchase rates is charging infrastructure.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »