Singapore (Feb 21): There were plenty of immediate buffers but Budget 2020 has also mapped out longer term policy goals for dealing with climate change.

Come 2040, all vehicles with internal combustion engines, or simply those that run on petrol or diesel, are to be replaced by either electric vehicles (EVs) or hybrids. DPM Heng Swee Keat announced an EV Early Adoption Incentive (EEAI) incentivising people to buy fully electric cars and taxis through a rebate of up to 45% on the Additional Registration Fee. Rebates will be capped at $20,000 on these fees taxes levied during vehicle registration.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook