However, vehicles under Band A2 will get $2,500 in rebate in 2025, instead of the current $5,000.
The LTA and NEA said most electric car models will enjoy the same level of rebates in 2025 as in 2024.
The zero-dollar ARF floor for electric cars and taxis will also be extended until Dec 31, 2025, which will allow mass-market EV buyers to continue maximising the rebates from the incentive scheme. However, new cars that fall under Band A2 – including high-powered EVs, most hybrids and smaller, more efficient internal combustion engine cars – will get a smaller rebate in 2025 of $2,500. This is down from $5,000 currently and $15,000 in 2023.
On the flip side, those buying the battery-powered Mercedes-Benz EQE300 sport utility vehicle, which falls under VES Band A2 and has an open market value of $77,689, will have to pay $112,723 in ARF in 2025, $2,500 more than in 2024. The EEAI, which took effect in 2021, was due to expire in December 2023, but was extended by two years until end-2025.Singapore’s ultimate goal is for all vehicles to run on cleaner energy by 2040.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World's second-largest diamond found in BotswanaThe 2,492-carat stone is thought to be worth upwards of US$40 million.
Read more »
Myanmar junta announces census for promised 2025 electionMyanmar's military government will conduct a nationwide population and household census in October, state media said on Monday (Sep 2), paving the way for a promised election next yea
Read more »
‘Digital licence plates’ for unmanned aircraft over 250g to be mandatory from December 2025: CAASIt will transmit information such as the position of the aircraft and the location of its operator.
Read more »
'Digital licence plate' required for unmanned aircraft weighing above 250g from December 2025The Civil Aviation Authority of Singapore plans to cover the full cost of the required Broadcast Remote Identification module unit for eligible users.
Read more »
KLIA Aerotrain service set to resume in Jan 2025, says Malaysian transport ministerTwo Aerotrain sets arrived in the country last week and are now entering the installation phase.
Read more »
Third Hyrox race in Singapore draws over 6,000; two more events planned for 2025The race combines running and several functional fitness movements.
Read more »