\n<\/p>\n
Carmakers told CNA that more players are expected to enter the luxury EV market to meet growing demand in Singapore.<\/p>\n
To prepare for this, some are already raising the bar by offering customisable entertainment systems and more spacious seating.<\/p>\n
China\u2019s oldest passenger carmaker Hongqi, for instance, made its Singapore debut by unveiling a preview of its electric luxury sport utility vehicle, which is set to hit the market from the middle of 2026.<\/p>\n
Eurokars Group, Hongqi’s Singapore distributor, said the model will offer more legroom.<\/p>\n
But even as it jazzes up its rides, the company expects competition in the luxury EV segment to intensify in the near future.<\/p>\n
\u201cWe don’t really see aggressive players within the luxury EV space,\u201d said Ms Charmain Kwee, group executive director of Eurokars.<\/p>\n
\u201cBut (in) the next few years, I’m not surprised that more and more car players will move into the direction,\u201d she added.<\/p>\n
\u201cSimilar to what combustion engines were years back, different carmakers will want to launch into different segments and different categories to cater to their broad customer pool.\u201d<\/p>\n
As more buyers turn to luxury EVs, brands will need to innovate to stand out in an increasingly competitive market.<\/p>\n
Audi, already active in the luxury EV segment, is focusing on features such as premium interiors and customisable high-end sound systems.<\/p>\n
The automaker expects to continue expanding its offerings in Singapore and the region.<\/p>\n
\u201cI think Singapore is the most progressive market for luxury EVs compared to other markets in the (Southeast Asia) region, mainly due to the perfect ecosystem here, (including) the charging system,\u201d said Mr Martin Bayer, managing director of Audi Singapore<\/p>\n
\u201cSingapore (also) has a very clear plan of how it evolves for the next few years, and this gives confidence to the manufacturers and also to the customers.\u201d<\/p>\n<\/div>\n