Chinese EV brands gain popularity in Singapore

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.

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.