Tesla receives approval to sell cars in Singapore, Model 3 pricing could be lower than a Toyota Camry

New Tesla Model 3

Tesla is one step closer to expanding into Singapore after the automaker received local government approval to sell its cars in the wealthy city state in south-east Asia.

The approval was posted on the Land Transport Authority’s (LTA) fuel economy comparison site last week. According to a report from The Straits Times, the tool only lists vehicles from approved manufacturers and agents, not third-party importers.

Not only does the comparison tool reveal Tesla’s approval to sell cars, it also revealed the Model 3 will be entitled to a significant tax break. Both the Standard Range and Performance variants listed were included in the ‘A1 Vehicular Emissions Scheme’ (VES) category.

Singapore fuel tool

This gives buyers a tax break of $25,000 SGD ($23,900 CAD). When combined with the country’s ‘Electric Vehicle Early Adoption Incentive’ of up to $20,000 ($19,100 CAD), Tesla has an edge over the competition.

Similar vehicles such as the Porsche Taycan, Audi e-tron, and Jaguar I-Pace are all included in the A2 VES category. These EVs are entitled to a $15,000 ($14,300 CAD) rebate.

With the extra incentives automotive experts in the country are predicting the Model 3 will be priced at between $145,000 and $215,000 SGD ($138,600 and $205,600) for the SR and Performance variants.

If true, the SR would be priced below a Toyota Camry, which sells for nearly $154,000 SGD.

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca