The Ministry of Transport (MoT) granted approximately SGD30 million in rebates during 2021 to encourage the transition to electric vehicles (EVs) in Singapore. A total of 1,636 electric cars and taxis registered during the period received the rebates under the Electric Vehicle Early Adoption Incentive (EEAI), which was announced during 2020 and implemented in January 2021.
The incentive, which will be available till December 2023, gives buyers of EVs and e-taxis upto 45 per cent rebate on their additional registration fees (ARF) tax. The rebate is capped at SGD20,000. The rebate programme was launched to reduce the upfront cost of an EV, which in 2020 cost roughly 78 per cent more than a comparable internal combustion engine (ICE) vehicle. Over a period of three years, this plan will cost the Government of Singapore SGD71 million.
Meanwhile, commercial operators have added around 300 additional EV charging outlets across Singapore during 2021, increasing the total number of charging facilities to over 2,200.