8.4 per cent of all new car registrations in the first five months of 2022 were electric. This is more than twice the rate in 2021, and over 20 times that in 2020.
The sale of EVs is growing rapidly in Singapore as the country accelerates its efforts at decarbonisation. This growth is also being observed elsewhere – with a Bloomberg analysis suggesting that the US has supposedly crossed the tipping point for mass adoption as 5% of all new-car sales were electric. This threshold hints at a period of rapid shift in technological preference and thus mass EV adoption.
As Singapore heads towards greater electrification of not just cars, but also of its public transport fleet, it is moving in the right direction towards decarbonisation of land transport. Still, given the nature of the country’s energy mix (much of the electricity is generated from fossil fuel sources), decarbonisation of land transport will also require an accompanying decarbonisation of the energy mix. Otherwise, EVs will be running on electricity generated from fossil fuels. Here, Singapore’s plans to import clean energy will contribute to decarbonization of its transport.
Besides charging infrastructure, the country will also need to look at EV battery recycling, to reduce dependence on lithium mining and manage imminent EV waste. Lithium recycling start-ups like NEU Battery Materials could provide a local circular solution.
Close to 1 in 10 cars sold in S'pore in 2022 so far was electric, Tesla most popular choice https://mothership.sg/2022/07/electric-vehicle-sold-tesla/
US Crosses the Electric-Car Tipping Point for Mass Adoption https://www.bloomberg.com/news/articles/2022-07-09/us-electric-car-sales-reach-key-milestone
As lithium reserves dwindle, Singapore EV battery recycling startup aims to plug supply gap https://www.eco-business.com/news/as-lithium-reserves-dwindle-singapore-ev-battery-recycling-startup-aims-to-plug-supply-gap/