SINGAPORE, Oct. 2 (Xinhua) -- Singapore's electric vehicle (EV) sales are forecast to rise 34.3 percent in 2026 to 34,940 units, lifting EVs' share of total vehicle sales to 54.6 percent, BMI Country Risk and Industry Research said on Thursday.
The Fitch Group unit attributed the growth to government tax incentives, an influx of affordable models produced in the Chinese mainland and the expansion of charging infrastructure.
As of June 2026, EVs accounted for 70 percent of new vehicle registrations, and the BMI expects the trend to continue through 2035, when EVs are projected to make up 44 percent of Singapore's vehicle fleet.
Generous subsidies and rebates, along with measures such as the EV Common Charger Grant, which supports charger installations at private residences, are expected to sustain demand, BMI said. It forecasts EVs will account for 85 percent of total vehicle sales by 2035.
In the first quarter of 2026, EVs accounted for 57.6 percent of new car registrations, or 7,679 vehicles. This was the first time EV sales exceeded those of internal combustion engine and hybrid vehicles. ■
