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Chinese EV brands gain popularity in Singapore

Source:Adsale Plastics Network Date :2024-07-16 Editor :RC
Copyright: This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

In Singapore, market growth of Chinese electric vehicles (EV) is resulted as more motorists accept these alternative cars, as CNA reported from industry players.

 

Vantage Automotive, which sells BYD, Ford and Peugeot cars, marked an increase in its EV sales from about 1,400 units in the whole of last year to more than 2,000 units so far this year.

 

Anthony Teo, Managing Director of Vantage Automotive, said that among the reasons for the increasing acceptance is the government incentives available, they take up to US$11,100 off new EVs.

 

With the government incentive, EV is quite comparable in pricing, compared to internal combustion engine vehicle.


BYD_EV_480.JPG


Chinese EV brands are driving the EV market demand in Singpore. (Source: BYD)


More Chinese EV brands are exploring to enter the Singaporean market, with a bigger range on offer.

 

For example, BYD, which accounted for more than 40% of newly registered EVs in Singapore in the first half of this year, plans to bring in a luxury model later this year, said Chan Cher Leong, Director of aftersales at Vantage Automotive’s Singapore office.

 

According to CNA, other Chinese EV brands like Xpeng and Zeekr are also set to hit the Singaporean market this year.

 

In addition, to capture more of the market, brands, including BYD, have been introducing more Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp. These cars command smaller Certificate of Entitlement (COE) premiums.

 

Teo explained that introducing this car range brings up competition to create EV firms’ incentive to price their models more reasonably to attract buyers.


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Singapore
ASEAN
Electric vehicles
Automotive
 Tangshan Zhonghao Chemical Co., Ltd      
 KRAIBURG TPE      
 HEBEI LINGSHOU COUNTYZHONGKE MINERAL POWDERCO, LTD.      
 GANSU EILITE NEW MATERIALS CO., LTD.      
 HANGZHOU JUXING NEW MATERIAL TECHNOLOGY CO., LTD      
 MOTAN TAICANG CO., LTD.      
 SUZHOU FISA HOT RUNNER TRADE CO., LTD      
 SHENZHEN YUTIAN NEW MATERIALS TECHNOLOGY CO., LTD      
 ZHEJIANG HONGXIANG CONNECTOR CO.,LTD.      
 SHANGHAI SUNWAY CHEMICAL CO.,LTD      
 SUZHOU GELEFU M&E TECHNOLOGY CO., LTD.      
 GUANGDONG HTASO NEW MATERIALS TECHNOLOGY CO.,LTD      
 TAIZHOU HUANGYAN AOJIE PLASTIC MOULD CO., LTD.      
 YONEI INNOVATIVE MATERIAL TECH LIMITED      
 Sinochem Internation Corporation      
 CATHAY (TAIYUAN) BIOMATERIAL CO., LTD.      

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Source:Adsale Plastics Network Date :2024-07-16 Editor :RC
Copyright: This article was originally written/edited by Adsale Plastics Network (AdsaleCPRJ.com), republishing and excerpting are not allowed without permission. For any copyright infringement, we will pursue legal liability in accordance with the law.

In Singapore, market growth of Chinese electric vehicles (EV) is resulted as more motorists accept these alternative cars, as CNA reported from industry players.

 

Vantage Automotive, which sells BYD, Ford and Peugeot cars, marked an increase in its EV sales from about 1,400 units in the whole of last year to more than 2,000 units so far this year.

 

Anthony Teo, Managing Director of Vantage Automotive, said that among the reasons for the increasing acceptance is the government incentives available, they take up to US$11,100 off new EVs.

 

With the government incentive, EV is quite comparable in pricing, compared to internal combustion engine vehicle.


BYD_EV_480.JPG


Chinese EV brands are driving the EV market demand in Singpore. (Source: BYD)


More Chinese EV brands are exploring to enter the Singaporean market, with a bigger range on offer.

 

For example, BYD, which accounted for more than 40% of newly registered EVs in Singapore in the first half of this year, plans to bring in a luxury model later this year, said Chan Cher Leong, Director of aftersales at Vantage Automotive’s Singapore office.

 

According to CNA, other Chinese EV brands like Xpeng and Zeekr are also set to hit the Singaporean market this year.

 

In addition, to capture more of the market, brands, including BYD, have been introducing more Category A cars, or those 1,600cc and below with horsepower not exceeding 130bhp. These cars command smaller Certificate of Entitlement (COE) premiums.

 

Teo explained that introducing this car range brings up competition to create EV firms’ incentive to price their models more reasonably to attract buyers.


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Chinese EV brands gain popularity in Singapore

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