Dec 30, 2024
Singapore has prolonged its electric vehicle incentive program until 2027.
Singapore has prolonged the incentive for electric light commercial vehicles under its Commercial Vehicle Emissions Scheme (CVES) until 31 March 2027, extending it from the previous end date of 1 April 2025.
Incentives for more polluting vehicles will also be eliminated or their surcharges increased under the CVES. This initiative is part of the efforts to promote the use of cleaner commercial vehicles.
The country's CVES classifies vehicles according to their 'worst-performing pollutant.' The S$15,000 ($11,060) CVES incentive for Band A, which primarily consists of electric vehicles, will remain unchanged at S$15,000, as stated in a joint announcement by the Land Transport Authority (LTA) and National Environment Agency (NEA) of the city-state. The S$5,000 incentive for Band B, which mainly includes petrol vehicles, will be discontinued, while the surcharge for Band C, primarily comprised of diesel vehicles, will increase from S$15,000 to S$20,000.
'These adjustments align with the government's vision to have all vehicles operate on cleaner energy by 2040,' the LTA and NEA mentioned in their joint statement on December 30. Moreover, Singapore plans to stop new registrations for diesel cars and taxis starting in 2025, as declared in July. Existing diesel cars will also face higher road taxes.
Additionally, the country’s Early Turnover Scheme (ETS) for heavy commercial vehicles, aimed at encouraging the replacement of older, more polluting diesel vehicles and buses by offering a discount for switching to cleaner-energy vehicles, will be extended to 31 December 2025.
As of the end of 2023, there were 11,941 battery electric cars in Singapore, representing just 1.8% of its total car population of around 651,300 units for that year. In contrast, the number of petrol-electric hybrid cars, excluding plug-in vehicles, was significantly higher at 79,256 by the end of 2023.
Incentives for more polluting vehicles will also be eliminated or their surcharges increased under the CVES. This initiative is part of the efforts to promote the use of cleaner commercial vehicles.
The country's CVES classifies vehicles according to their 'worst-performing pollutant.' The S$15,000 ($11,060) CVES incentive for Band A, which primarily consists of electric vehicles, will remain unchanged at S$15,000, as stated in a joint announcement by the Land Transport Authority (LTA) and National Environment Agency (NEA) of the city-state. The S$5,000 incentive for Band B, which mainly includes petrol vehicles, will be discontinued, while the surcharge for Band C, primarily comprised of diesel vehicles, will increase from S$15,000 to S$20,000.
'These adjustments align with the government's vision to have all vehicles operate on cleaner energy by 2040,' the LTA and NEA mentioned in their joint statement on December 30. Moreover, Singapore plans to stop new registrations for diesel cars and taxis starting in 2025, as declared in July. Existing diesel cars will also face higher road taxes.
Additionally, the country’s Early Turnover Scheme (ETS) for heavy commercial vehicles, aimed at encouraging the replacement of older, more polluting diesel vehicles and buses by offering a discount for switching to cleaner-energy vehicles, will be extended to 31 December 2025.
As of the end of 2023, there were 11,941 battery electric cars in Singapore, representing just 1.8% of its total car population of around 651,300 units for that year. In contrast, the number of petrol-electric hybrid cars, excluding plug-in vehicles, was significantly higher at 79,256 by the end of 2023.