73% Singapore car buyers are interested in electric cars, but many remain wary of high costs

SINGAPORE: A new survey has found that 73% of local car buyers are interested in purchasing electric vehicles (EVs), surpassing the global average of 58%.

This finding, part of the 2024 EY Mobility Consumer Index, highlights the growing momentum for EV adoption in the local market.

The survey marks a significant increase from last year, when 63% of local consumers expressed interest in EVs. This upward trend reflects a notable shift in consumer preferences towards more environmentally friendly transportation options.

Among those intending to buy electric vehicles, 40% of respondents preferred fully electric vehicles or battery electric vehicles (BEVs).

The remaining respondents were interested in hybrid or plug-in hybrid models, suggesting a continued demand for alternative electric powertrain options.

However, the survey also identified several concerns among potential EV buyers. 60% of respondents cited the high costs associated with public charging stations as a significant deterrent. Another 40% raised concerns about the safety and reliability of EV charging infrastructure.

Despite these apprehensions, the report highlights Singapore’s position as a leader in electric vehicle infrastructure in Southeast Asia.

The availability and development of local charging facilities are advanced compared to regional counterparts, but the report suggests that more public awareness is needed.

Efforts to inform consumers about ongoing improvements in EV infrastructure may help ease concerns about charging costs and safety.

As interest in electric vehicles grows locally, addressing these concerns could drive broader adoption and foster a sustainable transport ecosystem.