EV Early Adoption Incentive (EEAI)
From 1 January 2021 to 31 December 2023, car or taxi owners who register fully-electric cars can get the Additional Registration Fee (ARF) rebates of up to 45%, shaving off up to $20,000 for your new ride.
Enhanced Vehicular Emissions Scheme (VES)
From 1 January 2021 to 31 December 2025, the rebates for certain categories of vehicles will be increased by $5,000 for cars, and $7,500 fot taxis.
Under the VES scheme, cars in Singapore can enjoy either a rebate of pay a surcharge, depending on how much pollutants their chosen ride emits.
Since electric or hybrid vehicles emit significantly lower pollutants than petrol or diesel vehicles, they are likely to get a higher rebate under the scheme, which helps lower the costs of car ownership.
For more information - refer to LTA | Vehicles Emissions Scheme.
Additional Registration Fee (ARF)
From 1 January 2022 to 31 December 2023, the Additional Registration Fee (ARF) floor – a mandatory tax fee for registering a new car – will be lowered from $5,000 to $0 for fully electric cars and taxis, so buyers of mass-market electric cars can enjoy combined a combined rebate (EEAI and VES) rebates of up to $45,000.
Revision of road tax framework
From 1 January 2022, the road tax framework has been revised by the Government, cutting up to 34% in taxes. This means electric, hybrid and luxury cars now pay the same taxes.
For example, the Tesla Model Y has an estimated ARF of $92,705. A VES rebate is $25,000, with a capped EEI rebate of $20,000 - providing an estimated rebate of up to $45,000.
Singlife Go Green Discount
Some insurers offer exclusive discounts for Electric Vehicles.
Singlife is giving an additional 10% off premiums on top of existing promotions. Along with other fantastic benefits, there's no reason not to check us out.
Find out more or get a quote today!
