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Tax incentives will fuel EV adoption, rebate cuts unlikely to deter buyers from hybrids
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Electric vehicles will continue to receive up to $40,000 in incentives in 2025.
ST PHOTO: KEVIN LIM
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SINGAPORE - Over the last several years, generous incentives given to buyers of electric vehicles (EVs) have helped lower the cost of the technology and made the cars more affordable and popular.
EV registrations soared in the first eight months of 2024 to form 32.6 per cent of new car registrations, up from 18.1 per cent in 2023 and 11.7 per cent in 2022.
