![](https://i.imgur.com/CLvY2jA.png")
05-03-2024, 11:48 AM
The best outcome for traditional automobiles is for the weaker EV companies to quickly collapse allowing for consolidation and recovery of price as market share is consolidated.
If somehow many players are still able to hang around breakeven or slight loss level, this price war will get even more aggressive and erode whatever advantage traditional cars have left. This will in turn accelerate EV adoption and market erosion of traditional car companies.
Already we can see some of the effects even in a crappy EV infrastructure place like Singapore. My friend recently bought an entry level MG EV crossover despite him staying in a HDB flat and no charging station outside his house. I asked him why buy a EV despite the inconvenience, he told me some facts that I wasn't aware:
1) Price - The MG EV cost like $25 - $30k lesser than the likes of traditional crossovers like the Honda HRV and Nissan Kick. In fact according to him it even cost less than the entry level hatchbacks of most petrol cars.
2) Power - Just like all EVs, the acceleration is much faster and smoother compared to petrol cars. His entry level EV is roughly equivalent to a mid tier petrol car in terms of speed and performance.
3) Comfort - Very quiet compared to petrol car.
4) Charging inconvenience manageable - Definitely not as convenient as petrol, but with a much cheaper price for a more powerful car he felt it was worth it. Surprisingly according to him the problem is not lack of charging points, there are more than enough and can prebook with app, it's the charging time that sux (need about 30 - 45min)
5) His HDB carpark has already started to install EV charging point, anticipate to start service within this year.
6) Electricity charge cost per km travel is cheaper than petrol.
If the price war continues then it is likely that EVs might start to cost even lesser than a toy car like Perudua, then I anticipate the Malay community will unexpectedly be the pioneers of wide scale EV adoption in Singapore.
If somehow many players are still able to hang around breakeven or slight loss level, this price war will get even more aggressive and erode whatever advantage traditional cars have left. This will in turn accelerate EV adoption and market erosion of traditional car companies.
Already we can see some of the effects even in a crappy EV infrastructure place like Singapore. My friend recently bought an entry level MG EV crossover despite him staying in a HDB flat and no charging station outside his house. I asked him why buy a EV despite the inconvenience, he told me some facts that I wasn't aware:
1) Price - The MG EV cost like $25 - $30k lesser than the likes of traditional crossovers like the Honda HRV and Nissan Kick. In fact according to him it even cost less than the entry level hatchbacks of most petrol cars.
2) Power - Just like all EVs, the acceleration is much faster and smoother compared to petrol cars. His entry level EV is roughly equivalent to a mid tier petrol car in terms of speed and performance.
3) Comfort - Very quiet compared to petrol car.
4) Charging inconvenience manageable - Definitely not as convenient as petrol, but with a much cheaper price for a more powerful car he felt it was worth it. Surprisingly according to him the problem is not lack of charging points, there are more than enough and can prebook with app, it's the charging time that sux (need about 30 - 45min)
5) His HDB carpark has already started to install EV charging point, anticipate to start service within this year.
6) Electricity charge cost per km travel is cheaper than petrol.
If the price war continues then it is likely that EVs might start to cost even lesser than a toy car like Perudua, then I anticipate the Malay community will unexpectedly be the pioneers of wide scale EV adoption in Singapore.
