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Electric Vehicles

Singapore's Rich Face Delays and High Prices for New Luxury EVs

Buying a car in the city-state could get even more expensive as external factors limit supply

A BYD showroom in Singapore.

A BYD showroom in Singapore.

Photographer: Ore Huiying/Bloomberg

After waiting for almost a year, Lim Swee Hoe was ecstatic when his $340,000 Porsche Taycan finally arrived in Singapore last month.

“It was definitely worth the wait,” said the 56-year-old managing director, his eyes twinkling with pride at the white electric vehicle parked in the garage of his semi-detached home.