SINGAPORE, March 24 — Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage. But the car-tech enthusiast is also not ready to...
SINGAPORE, March 24 — Singaporean chip designer Eu Gene Goh is an electric-vehicle evangelist with two Teslas in the garage.
Singapore’s target of phasing out combustion car sales by 2030 puts it in a small group of countries with that near-term goal, including Iceland, Sweden and the Netherlands, but sales of electric cars in those markets have picked up faster. Still, EVs represented just 1 per cent of cars on the road, a Reuters analysis of ownership data found. By comparison, combustion sports cars in a city where the Formula 1 Grand Prix is one of the biggest events of the year made up 1.65 per cent of the almost 653,000 registered vehicles.
Over the past decade, the number of Ferraris in Singapore has grown by 67 per cent and Lamborghinis by 38 per cent. The number of McLarens has grown more than five-fold to 180 since 2012, the data shows. There are almost five times more Porsches on the road than Teslas. HSBC estimates 13 per cent of Singaporeans may be millionaires by 2030, the highest share in the world.A charity auction of 100 limited-edition “made in Singapore” Hyundai 005380.KS Ioniq 5s earlier this year managed to sell only half of the special-edition EVs embossed with the city’s Merlion mascot.
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