Why Your Business Should Procure Electric Commercial Vehicles in Singapore
As Singapore strives to become globally recognised for its environmental sustainability, its businesses have also similarly been looking for ways to minimise their impact on the environment and shift to more environmentally sensitive and sensible operation strategies in a bid to become more environmentally friendly. It is no surprise then, that the commercial vehicles market in Singapore has recently seen heightened interest in purchasing an electric car for commercial use, in light of the numerous benefits electric vehicles could potentially bring to the environment and the businesses themselves. In the search for an excellent electric commercial vehicle Singapore businesses have a plethora of options to choose from: this article shall demonstrate why businesses may want to take a closer look at the immense potential of electric commercial vehicles, while assessing their suitability and value in the long run.
Here are just some of the benefits of electric commercial vehicles which could be of interest to businesses which are looking to expand their fleet of vehicles, upgrade an older company vehicle, or perhaps even purchase a first commercial vehicle:
- Environmental Considerations
- Regulatory Factors
- Improved Cost Effectiveness
Environmental Considerations
As the world reaches a crossroads on the climate emergency, many are pushing for more action to be taken by governments, organisations, businesses and individuals alike to be more environmentally conscious by watching their carbon footprint and minimising pollution. The automotives industry is strongly tied to the production and burning of fossil fuels such as petroleum, diesel and fuel oil. However, it is undeniable that the continued usage and exploitation of these fossil fuels are having negative implications on global temperatures and regional ecosystems, especially with the emission of greenhouse gases such as carbon dioxide and methane.
Electric vehicles thus serve as alternatives to the intensive fossil fuel consumption of traditional vehicles, due to their usage of renewable energy sources such as hydrogen – which means that fewer greenhouse gases are being emitted, leading to a smaller carbon footprint and reduced environmental impact. Electric vehicles are thus a perfect option for businesses which are more environmentally conscious and wish to reduce the environmental impacts of their daily operations by choosing a vehicle which is more environmentally sustainable and has a smaller carbon footprint.
Improved Cost Effectiveness
In addition to being more environmentally sustainable, electric commercial vehicles actually have the huge benefit of cost effectiveness, which may be a huge benefit from a business standpoint. Fundamentally, electric vehicles function very differently from diesel or petrol-reliant vehicles, especially because they utilise battery charging instead. This means that electric commercial vehicles are not as affected by frequent fluctuations in the prices of diesel and fuel, and stand to benefit from the lower costs associated with electric charging.
For businesses looking to extend their profit margins and cut costs, electric commercial vehicles present a unique value proposition which allows for immense cost savings in the long run.
Regulatory Factors
When it comes to the electric vehicles market, governmental and regulatory factors are incredibly important, especially given how new the industry is. In encouraging potential consumers to consider the benefits and practicalities of electric vehicles, Singapore’s government in particular has come up with various regulations and policies to incentivise the purchase of electric vehicles, while making the switch much more seamless and fuss-free. The table below illustrates some of the various policy and regulatory changes which have been made of late.
| Enhancement | Elaboration |
|---|---|
| Increased electric vehicle charging points | The relevant Singapore authorities have been constantly expanding Singapore’s electric vehicle charging infrastructure, with more charging points being added all across the island with each passing year. Additionally, more public and private developments are adding electric vehicle charging points to their properties, which will make charging more convenient in the future. |
| Lowered administrative fees | As part of the various incentives aimed at increasing the take up rate of electric cars, the Land Transport Authority (LTA) has introduced a slew of measures to make the switch from combustion vehicles to electric vehicles more seamless. One such incentive is the 45% rebate off the Additional Registration Fee (ARF) until the end of 2025. |
| Schemes tailored at commercial vehicles | Businesses purchasing an electric car for commercial use can stand to receive a $15000 incentive if their electric commercial vehicle meets various pollution control requirements as stipulated by the Land Transport Authority (LTA) |
Numerous options to choose from
Even though the electric vehicles industry is relatively new, automotive manufacturers have, in recent years, come up with a plethora of electric vehicle options for potential buyers to choose from, based on their specific needs and requirements. Whether businesses are looking for a passenger vehicle to ferry clients or employees, or a workhorse to transport bulkier objects such as an electric commercial van Singapore offers many choices for customers to choose from.
One particular electric commercial car which has seen heightened interest is the VW electric commercial van by Volkswagen, for its functionality and convenience, especially for business owners looking for a versatile van to augment their business requirements. Additionally, smaller vehicles for passengers are also available, so it will depend wholly on what the business is looking for and the specific requirements which they would need to fulfil with the purchase of this electric commercial van.
Conclusion
The world of electric vehicles is becoming more prominent by the day, and its future possibilities seem to be limitless. There are many reasons why electric vehicles are being favoured, but in a business context factors like cost savings, regulatory compliance and environmental sustainability become all that more important because of their profound impacts on the business, its operations, and its net profit.
Electric commercial vehicles thus offer a convincing alternative to traditional petrol-powered vehicles, with their new and improved technology and cost-cutting measures which are more in line with today’s socio environmental norms. For potential buyers looking for an electric commercial vehicle Singapore is a perfect place to purchase these vehicles, due to the various governmental regulations and incentives which are in place. Additionally, the wide array of electric commercial vehicles on offer, as well as the promise of more well-developed infrastructure and charging points within the next few years makes for a compelling case for businesses to consider procuring electric vehicles for their operations.
