Post-2021, the macro and industry research firm expects EV sales to grow at an average annual rate of 40% y-o-y from 2022 to 2030 to reach an annual sales volume high of just under 7,000 units and an EV-penetration rate of around 9.6% of total vehicle sales.
Sales of electric vehicles (EVs) in Singapore are estimated to grow by 170% y-o-y to reach an annual sales volume of 475 units in 2021, says Fitch Solutions in a June 7 report.
The figure represents a “strong expansion” following a 73% y-o-y drop in EV sales in 2020.
