The EV You’re Eyeing Might Be Cheaper in Singapore Starting May
The Ministry of Transport (MOT) on Tuesday, 8 March announced it will be revising the certificate of entitlement (COE) criterion in a bid to make certain fully electric vehicle (EV) models more accessible to the market.
Transport Minister S. Iswaran said that EVs with up to 110kW of power will fall under Category A COE starting May. This change could make it more affordable to own EV models that fit the criteria, given how premiums for Category A cost much less than that of Category B's. Under the latest COE tender, the premium of Category A was about S$30,590 cheaper than Category B, as The Straits Times notes.
Some of the mass-market EV models that will be classified under the new Category A COE include the Hyundai Ioniq Electric and Kona Electric, Kia Niro Electric Short Range and Nissan Leaf. The Hyundai Ioniq Electric, for instance, is, as of right now, under Category B, selling for S$172,888 inclusive of COE. Once the revision goes into effect, that price should go down.
Currently, Category A COEs cover cars with engine capacities of up to 1,600cc and maximum power output (MPO) of 97kW or 130bhp, regardless of whether they’re EVs or not. The new change to 110kW, however, only applies to fully