H. Yoo
Research expert covering South Korea
Electric vehicle market in Singapore - statistics & facts
Singapore is rapidly emerging as a key player in electric vehicle (EV) adoption within Southeast Asia. In 2024, EVs accounted for approximately one-third of all new car registrations in the country, a notable rise from 18 percent in 2023 and 12 percent in 2022. This growth reflects the country’s long-term strategy to decarbonize its transport sector, which is aligned with its Green Plan 2030. Singapore is projected to reach an electric vehicle adoption rate of 74 percent by 2035, the highest across Southeast Asia. Central to this progress are government-led initiatives, including the Land Transport Authority’s (LTA) target to phase out internal combustion engine vehicles by 2040 and its push for the nationwide adoption of cleaner energy vehicles.
Singapore’s electric vehicle market is poised for sustained growth, underpinned by strong government support, expanding infrastructure, and evolving consumer preferences. The rising share of EVs in new car registrations signals a broader shift toward sustainable mobility. As infrastructure matures and more affordable models enter the market, EV adoption is expected to accelerate, positioning Singapore as a regional benchmark for clean transport transition.
Infrastructure development and government initiatives
A key driver of EV adoption in Singapore is the expansion of charging infrastructure. As of August 2024, the country had approximately 13,800 EV charging points, with plans to reach 60,000 by 2030. Additionally, The EV Common Charger Grant (ECCG), launched by the LTA to subsidize installations in non-landed private housing, has supported over 1,200 chargers to date. These measures, alongside the EV Early Adoption Incentive (EEAI) and Vehicular Emissions Scheme (VES), have contributed to a growing EV population, from 6,531 in 2022 to 26,225 in 2024.Leading EV brands in Singapore
The shift towards electric vehicles is also evident in changing market dynamics. In 2024, Chinese automaker BYD became the top-selling EV car brand in Singapore, registering more than 8,000 electric vehicles and capturing 32.5 percent of the market. Tesla followed with 5,163 units, while other Chinese brands like MG and Xpeng gained traction. The popularity of these brands reflects their ability to meet local consumer demands through affordability, advanced technology, and sustainability. The success of BYD’s Atto 3 and Tesla’s Model 3 highlights rising consumer confidence in EV performance and reliability.Consumer preferences and behavioral trends
Consumers in Singapore are increasingly drawn to EVs for both environmental and economic reasons. Lower running costs, government rebates, and rising fuel prices are influencing purchasing decisions. Convenience remains a key factor; the availability of home or neighborhood charging plays a significant role in adoption. As charging infrastructure continues to expand, consumer trust is expected to increase, further reinforcing the EV market’s upward trajectory.Singapore’s electric vehicle market is poised for sustained growth, underpinned by strong government support, expanding infrastructure, and evolving consumer preferences. The rising share of EVs in new car registrations signals a broader shift toward sustainable mobility. As infrastructure matures and more affordable models enter the market, EV adoption is expected to accelerate, positioning Singapore as a regional benchmark for clean transport transition.
