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Policies And Business Models For The Electric Mobility Revolution: The Case Study On Singapore

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  • YANFEI LI

    (Economic Research Institute for ASEAN and East Asia (ERIA), Sentral Senayan II, 6th Floor Jalan Asia Afrika No. 8, Gelora Bung Karno, Senayan Jakarta Pusat 10270, Indonesia)

  • ROBERT KOCHHAN

    (TUM CREATE Limited, 1 Creat Way, #10-02 CREATE Tower, Singapore 138602, Singapore)

Abstract

A detailed total cost of ownership (TCO) model, with well-to-wheel carbon emissions assessment, is developed to analyze the economic competitiveness of battery electric vehicle (BEV) against conventional internal combustion engine (ICE) vehicles in Singapore. The model fully integrates the unique economic, institutional and social features of Singapore related to the ownership and usage of a passenger vehicle into consideration. Assuming current technologies and no change in the regulatory and policy framework, it is found that BEV is already economically competitive in certain niche markets of Singapore, such as small and midsize vehicles for car-sharing and corporate uses. In the near future, with technological progress, BEVs will become competitive in most parts of the Singapore passenger vehicle market, including small vehicles for household and small and midsize vehicles for car-sharing, corporate and taxi uses. However, certain supportive policies are called for, based on policy simulation results, to effectively accelerate the adoption of BEVs. Evidence also shows that supports should be given to the development of charging infrastructure at an early stage of BEV adoption.

Suggested Citation

  • Yanfei Li & Robert Kochhan, 2017. "Policies And Business Models For The Electric Mobility Revolution: The Case Study On Singapore," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(05), pages 1195-1222, December.
    • Handle: RePEc:wsi:serxxx:v:62:y:2017:i:05:n:s021759081550109x
    DOI: 10.1142/S021759081550109X
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    References listed on IDEAS

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    2. Li, Yanfei & Kimura, Shigeru, 2021. "Economic competitiveness and environmental implications of hydrogen energy and fuel cell electric vehicles in ASEAN countries: The current and future scenarios," Energy Policy, Elsevier, vol. 148(PB).
    3. Li, Yanfei & Chang, Youngho, 2019. "Road transport electrification and energy security in the Association of Southeast Asian Nations: Quantitative analysis and policy implications," Energy Policy, Elsevier, vol. 129(C), pages 805-815.

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