POLICIES AND BUSINESS MODELS FOR THE ELECTRIC MOBILITY REVOLUTION: THE CASE STUDY ON SINGAPORE

Yanfei Li and Robert Kochhan ()
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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

The Singapore Economic Review (SER), 2017, vol. 62, issue 05, 1195-1222

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.

Keywords: Battery electric vehicles (BEV); total cost of ownership (TCO); battery cost; supportive policy; ARF; Singapore (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (3)

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DOI: 10.1142/S021759081550109X

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