Singapore expected to have largest share of passenger EVs in Southeast Asia by 2040: Report
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SINGAPORE — Singapore is forecast to have the largest share of passenger electric vehicles (EVs) in South-east Asia by 2040, according to a report from Bloomberg's energy research service BloombergNEF. A total of 80 per cent of all passenger vehiclesSingapore expected to have largest share of passenger EVs in Southeast Asia by 2040: Report
SINGAPORE — Singapore is forecast to have the largest share of passenger electric vehicles (EVs) in South-east Asia by 2040, according to a report from Bloomberg's energy research service BloombergNEF. A total of 80 per cent of all passenger vehicles here are expected to be electric by that year, compared with a regional average of 24 per cent, the report said. Thailand, in second place, is forecast to have a 41 per cent share, followed by Vietnam (31 per cent), Indonesia (25 per cent), Malaysia (15 per cent) and the Philippines (10 per cent). Singapore had the highest EV adoption rate among the six South-east Asian countries in 2023, according to BloombergNEF, with EVs accounting for about 19 per cent of all vehicles sold here. In the first seven months of 2024 alone, EVs formed 32.1 per cent of new car registrations, based on data from the Land Transport Authority.