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Understanding the factors which affects Electric Vehicles (EV) buying decision in Singapore and how to further increase the uptake of EV

  • The signs of global warming are everywhere, ranging from highest record temperatures in cities to mega wildfires in the amazon. Heat is melting ice glaciers, contributing to floods and rising sea levels. Transportation is one of the largest carbon-emitting sectors and it is difficult to meet the carbon reduction goals without a significant improvement in the change from Internal Combustion Engine (ICE) vehicles to Electric Vehicles (EVs). EVs are capable of reducing transport related emissions. However, the problem is that EVs on their own haven’t convinced consumers to make the switch and there is a role for policy makers to play. This study seeks to provide recommendations to support policy makers to come up with measures that if adopted, could increase EV uptake in Singapore. A survey questionnaire has been conducted to discover and understand the factors which affects EV buying decision in Singapore in addition to literature review from past studies. The main concerns of Singapore car drivers of EVs are that they are too expensive, lack of availability of public charging stations and long charging duration. An experimental component in the survey found that providing information on EVs could increase willingness to purchase an EV. Analysis from other countries shows that successful governmental policies includes first and foremost, financial incentives to make the prices of EVs as competitive as similar ICE models. Other soft incentives were also implemented which acts as a complement at a later stage of adoption. Recommendations for policy makers includes actions under the following: National goals/legislation/infrastructure, sales support and availability and quality of information which Singapore policy makers can consider to move towards a renewable and sustainable future.

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Author:Jia Hao Neo
Advisor:Daniel Cerquera
Document Type:Bachelor Thesis
Year of Completion:2020
Granting Institution:Hochschule Furtwangen
Date of final exam:2020/02/29
Release Date:2020/02/25
Tag:Electric vehicle
Page Number:98
Degree Program:IBM - International Business Management
Functional area:Andere/Other
Licence (German):License LogoUrheberrechtlich geschützt