Singapore is extending and increasing its rebate program for green vehicles for another 2 years till the end 2007. The incentive is applicable to those who own electric, hybrid cars and Compressed Natural Gas (CNG) vehicles.
Owners of qualifying cars will get a rebate equivalent to 40% of the car’s open market value (OMV), up from the present 20%. The rebate is designed to offset the Additional Registration Fee payable at registration.
For buses, the rebate is 5%, and for CNG taxis, the rebate will be equivalent to 80% of the OMV from 1 January 2006 to 30 September 2006. From 1 October 2006 onwards, the rebate for CNG taxis will be equivalent to 40% of the vehicle’s OMV.
Singapore first introduced such rebates in 2001 for the registration and use of electric and hybrid cars, and extended the rebates to CNG vehicles in October 2001..