EV Adoption Tracker: Singapore March 2026
Electric vehicle adoption in Singapore continues to accelerate, reshaping both the automotive market and the COE system. This monthly tracker compiles the latest EV registration data, market share trends, model-level analysis, and infrastructure developments. March 2026 marked another milestone month for the EV segment.
March 2026 EV Registration Highlights
| Metric | March 2026 | February 2026 | March 2025 |
|---|---|---|---|
| New EV registrations | 1,680 | 1,520 | 1,190 |
| Total new car registrations | 8,900 | 8,200 | 8,500 |
| EV market share | 18.9% | 18.5% | 14.0% |
| Cumulative EV population | ~38,500 | ~36,800 | ~23,000 |
March 2026 saw 1,680 new battery-electric vehicle (BEV) registrations, pushing the monthly market share to 18.9%. This represents a nearly 5 percentage point increase from the same month last year. The cumulative EV population in Singapore has now reached approximately 38,500 vehicles, up from just 7,000 at the start of 2023.
Top EV Models: March 2026
| Rank | Model | Registrations | COE Category |
|---|---|---|---|
| 1 | Tesla Model Y | 310 | B |
| 2 | BYD Atto 3 | 265 | B |
| 3 | Tesla Model 3 | 220 | B |
| 4 | BYD Seal | 180 | B |
| 5 | Hyundai Ioniq 5 | 120 | B |
| 6 | BYD Dolphin | 115 | A |
| 7 | MG4 Electric | 95 | A |
| 8 | Mercedes-Benz EQA | 75 | B |
| 9 | BMW iX1 | 70 | B |
| 10 | Kia EV6 | 65 | B |
Tesla and BYD continue to dominate, collectively accounting for nearly 58% of all EV registrations. The BYD Dolphin and MG4 Electric are notable as the leading Category A EVs, offering more affordable entry points into electric ownership.
Category Distribution of EVs
Of the 1,680 EVs registered in March, approximately 1,380 (82%) fell into Category B and 300 (18%) into Category A. This skew toward Category B reflects the power-based classification system: most mainstream EVs have motor outputs exceeding the equivalent of 1,600cc, placing them in the higher category. The growing presence of smaller, lower-powered EVs like the BYD Dolphin is gradually increasing the Category A share, but Category B remains the primary battleground for EV demand.
EV Impact on COE Market
The COE implications of EV adoption are significant and growing. With 1,380 EVs bidding in Category B in March alone (up from approximately 850 in March 2025), electric vehicles now represent roughly 25% of total Category B demand. This is a structural shift that has contributed to the persistent firmness of Category B premiums.
The key dynamic is that EV demand is additive to existing ICE demand, not substitutive. An EV buyer who would have purchased a petrol car anyway simply shifts their demand from one powertrain to another within the same COE category. But the overall growth in the car market, driven partly by EV enthusiasm from buyers who might not have purchased a car otherwise, adds net demand to the system.
For a comprehensive analysis of EV costs including COE, see our EV cost breakdown and Tesla ownership guide.
Charging Infrastructure Update
Singapore's EV charging network continued to expand in March 2026. The latest data shows approximately 6,800 public charging points across the island, up from approximately 5,200 a year ago. The government's target of 60,000 charging points by 2030 remains ambitious, but the trajectory is positive.
Key developments in March included the expansion of SP Group's network at HDB car parks and the launch of new DC fast-charging stations at several shopping malls. The ratio of EVs to public chargers currently stands at approximately 5.7 vehicles per charger, which is within the range considered adequate for a market at Singapore's stage of EV adoption.
VES Rebate Tracker
The Vehicle Emissions Scheme remains a significant factor in EV economics. Under the current VES bands, most battery-electric vehicles qualify for rebates of $15,000 to $25,000, which materially reduces the upfront purchase price. The interaction between VES rebates and COE premiums is important to understand: a $20,000 VES rebate offsets roughly 20% of a Category B COE premium, making the effective COE cost more palatable for EV buyers.
The government has indicated that VES bands will be reviewed periodically. Any tightening of rebate eligibility could slow EV adoption, while a loosening could accelerate it further. We will track and report any VES changes as they are announced.
Frequently Asked Questions
Which EVs qualify for Category A?EVs are assigned to COE categories based on their motor power, converted to an equivalent engine capacity using the formula: power (kW) x 5.444 = equivalent cc. EVs with an equivalent capacity of 1,600cc or below (approximately 294 kW or less) qualify for Category A. Currently, the BYD Dolphin (150 kW), MG4 Electric (125-150 kW), and a few other compact EVs meet this threshold. Most mainstream EVs, including all Teslas, exceed the threshold and fall into Category B.
Is EV adoption slowing COE supply?Not directly. EVs do not affect COE supply, which is determined by deregistrations and policy. However, EVs do increase demand for COE certificates, which tightens the supply-demand balance and supports higher premiums. The net effect is upward pressure on prices, particularly in Category B where most EVs compete.
How does Singapore's EV adoption compare regionally?Singapore's 18-19% EV market share is among the highest in Southeast Asia, though it lags global leaders like Norway (90%+) and China (35%+). Within ASEAN, Singapore benefits from strong government support through VES rebates and infrastructure investment. Thailand and Indonesia are emerging as EV manufacturing hubs, which could bring more affordable models to the Singapore market in coming years.