Tax benefits for electrified vehicles were listed as the most attractive incentive for electrified cars, according to the results of a study conducted by Frost & Sullivan, a market research and analysis firm.
The findings were presented at Nissan Futures, a virtual webinar on electromobility.
Speaking at the event was Isao Sekiguchi, Regional Vice President of Nissan ASEAN, who said, “Electrified mobility is not the solution to every problem. But they are cleaner and produce much less noise than traditional vehicles, making cities a better place to live.”
Also at the event was Vivek Vaidya, Associate Partner and Senior Vice President of Intelligent Mobility at Frost & Sullivan Asia Pacific. “Globally, electrified vehicles of all kinds are moving from adopter phase to mainstream adoption phase twice as fast. Two in three consumers in ASEAN say that they will inevitably adoption electrified mobility as part of their lives in the near future.”
But post-pandemic sentiment (and a massive drop in crude oil prices) have seen consumers gravitate back toward internal combustion engines. A survey in 2020 saw 37% of respondents across six markets in Southeast Asia (Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam) willing to make the switch to an electrified vehicle in the next 3 years, as opposed to 51% in a survey done back in 2018.
However, an electrified future in Singapore is imminent. Despite the declining interest in owning an electrified vehicle in our neighbouring regions, 30% of vehicle owners in Singapore are ready and willing to purchase an electrified vehicle, with 60% of Singaporean respondents saying they would consider making the switch to electric driven cars.
The study has also shown that adoption barriers for electric driven vehicles have significantly decreased since 2018. According to the study in 2020, consumers’ concerns about the safety, reliability and maintenance costs for EVs have dipped. Range anxiety and public charging infrastructure remain the highest barriers to adoption.
With Nissan’s e-Power technology, these concerns are alleviated. Consumers have lauded the fast and smooth acceleration in e-Power vehicles, as well as the reduced noise and high-power outputs of e-Power vehicles. Coupled with the fact that Nissan’s e-Power vehicles do not require charging points makes this technology an attractive package for most consumers in Singapore.
Currently, Nissan has two e-Power vehicles on sale in Singapore; The Nissan Serena e-Power MPV, and the compact B-Segment Nissan Kicks e-Power. Joining the ranks later this year is the third generation Nissan Note e-Power.