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- Aug 12, 2024
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Chinese EV Makers Debut in Singapore as City-State Dangles Incentives
More Chinese electric vehicle (EV) brands are making their debut in Singapore, driven by the city-state's push for EV adoption. Let's dive into the details:
Zeekr by Geely
- Luxury Brand: Geely-owned luxury brand Zeekr recently launched in Singapore with the Zeekr X, a premium SUV priced at 199,999 Singapore dollars ($150,604).
- Premium Driving Experience: Mars Chen, vice president of Zeekr, emphasized that their launch aims to offer more than just a form of conveyance. They want to provide a premium driving experience that elevates urban living.
- Southeast Asia Expansion: Zeekr is optimistic that their Singapore launch will help grow their footprint across Southeast Asia and beyond.
Xpeng Motors
- Entry into Singapore: Xpeng Motors entered the Singapore market just a week earlier. They set up a pop-up showroom, allowing visitors to test drive the Xpeng G6 electric SUV.
- Pricing: Prices start from SG$209,999 for the standard model and SG$224,999 for the longer-range version.
Government Incentives
- EV Early Adoption Incentive: To sustain the momentum of EV adoption, Singapore extended the EV Early Adoption Incentive scheme until 2025. Newly registered fully electric cars and taxis receive a 45% rebate off the additional registration fee, capped at SG$15,000¹.
- Charging Infrastructure: Analysts note that Singapore's EV charging infrastructure needs to expand rapidly to support continued EV adoption.
Singapore's commitment to cleaner energy includes phasing out diesel-powered cars and taxis by 2025 and internal combustion engine vehicles by 2030. The goal is to have all vehicles running on cleaner energy by 2040.