Singapore government is pushing to ban sale of combustion vehicles from 2030
This is in line with targets set by countries like Iceland, Sweden and The Netherlands. But there is a problem...
Adoption of EVs in Singapore has not been as quick as it has been in these countries
The super rich in Singapore aren't too willing yet to give up on their super expensive engine-powered cars
EVs were around 12 per cent of all car sales in Singapore in 2022, up from 4 per cent from a year earlier
But EVs in Singapore still account for only one per cent of all passenger vehicles here
Popularity of Ferrari, Lamborghini and McLaren models have spiked in recent times
Owning a small EV here is also not exactly a value proposition