Market Share of Singapore Electric Vehicle Industry
Singapore Electric Vehicle Market is dominated by several key players, including Hyundai Motor, Tesla Inc., BMW Group, MG Motors, and Volvo Group. Several vehicle manufacturers are investing in the country to enhance electric vehicle sales during the forecast period. For instance,
- December 2022: Renault Singapore announced it would transition to full electrification, with the first model in the company's Electric Vehicle (EV) lineup set to debut in 2023. The move is in line with Renault's global directive to expand its electric mobility offerings, as well as Singapore's Green Plan 2030.
- January 2022: Hyundai Motor Company invested USD 295 Million to develop the new Hyundai Motor Group Innovation Center (HMGICS) in Singapore features an electric car factory with targeted production of 30,000 electric vehicles by 2025.
Singapore Electric Vehicle Market Leaders
BMW AG
Hyundai Motor Company
Tesla Inc.
MG Motor
AB Volvo
*Disclaimer: Major Players sorted in no particular order
