Tesla Model 3s Could Cost From S$145K With At Least S$25K Rebates

Tesla has been given the green light to start selling its electric cars in Singapore.

Two versions of Tesla’s Model 3 have appeared on the Land Transport Authority (LTA) fuel economy comparison site, confirming that the electric car will be available here soon.

According to the site, a 377 kW Tesla Model 3 Performance and 239 kW Model 3 Standard lineup received an A1 Vehicle Emissions Scheme (VES) bandage, which gives buyers a tax rebate of S $ 25,000.

As part of the Electric Vehicle Early Adoption Incentive (EEAI), buyers will also receive an additional discount of up to S $ 20,000.

Observers have speculated that a Tesla car could sell for as low as S $ 145,000, which is less than a gasoline-powered Toyota Camry.

Based on an estimate of the free market value (OMV), a Tesla Model 3 Standard Range and Model 3 Performance car costs S $ 44,000 and S $ 62,000 respectively before the taxes.

However, the prices of the two cars could be respectively S $ 145,000 and S $ 215,000 after taking into account additional registration fees, excise duties, registration fees, goods and services tax, of the right certificate, the road tax for the first year and the profit margin.

This isn’t the first time Tesla has tried to get started with S’pore

Tesla first moved here in mid-2010, but quit in early 2011 because it failed to secure green tax breaks.

In 2016, Tesla tried to launch again in Singapore, but the automaker ran into problems.

The first Tesla Model S owner in Singapore had problems with emissions testing and was fined S $ 15,000 after LTA determined the car was more polluting than a full-size gasoline car similar.

Tesla tried to fight back against the decision and issued a statement claiming that the results of the efficacy tests should have been almost three times lower than those obtained from the LTA tests.

This was then followed by controversial tweets from Tesla founder Elon Musk, who said Singapore was not favorable to electric cars and unwelcoming from Tesla.

Local government has since been much more responsive to electric vehicles, and Tesla is finally giving it another chance five years later.

Tesla started posting jobs in Singapore on LinkedIn and last month included Singapore in its global network of broadband chargers.

According to LTA, there are currently 41 Tesla cars in Singapore as at the end of last year and all of them are parallel imports.

Featured Image Credit: AFP

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Jothi Venkat

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