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Instructions on how to post your insights

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Instructions on how to post your insights

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1) Click on the '+' sign
2) Click on the "Title" and type in your name
3) Click on "Write something" and post your insights, using the Paul's Wheel of Reasoning as a guide.

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Who you are

Your objectives

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To ensure that Singapore intoduces policies that minimise the risk of my business collapsing/ decrease the loss incurred by my business when I start up in Singapore. Similarly, the policies will have to help my business thrive in the long term. It also has to be conducive to the long term growth of the EV sector in Singapore.

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How will the policies be effective in attracting Singaporeans who still do not own card to buy EVs so that I can benefit from this?

A large majority of Sinapores are still using vehicles powered by fuel. How will the policies ensure that I would not be at a loss should I start manufacturing EV machinery?

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OEMs provide the components in another conpany’s product, and works closely with the seller of the finished product. Which in this case, are the EVs.

There is insufficient traction of EVs in Singapore, as such, currently OEM’s businesses are at risk.

It is too expensive to operate and manufacture EV equipment in Singapore, we require the government to loeer the overall cost to operate in Singapore to lower the business risk.

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The current situation in Singapore is not conducive and beneficial for OEMs should they decide to manufacture EV equipment. Should they do so, they are highly likely to face risks of their businesses collapsing.

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How much equipment  do OEMs provide to EV manufacturing companies for them to manufacture a EV.

Why Singaporeans are unwilling to swap to EVs after the government implements their policies

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Electric vehicle companies
Value added resellers/ people who help us sell the final product which is the EV
Government and theur stance towards EVs

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The government will fully support the usage of EVs and will do their best in helping us push out the initiative to use them

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The government will likely implement policies that will increase the demand for/ usage of EVs. Which will help OEMs increase profits as OEMs will be able to generate more profit from manufacturing more equipment/parts of EVs for car manufacturing companies.

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It is to ensure that the introduction of policies in Singapore pertaining this issue would not disadvantage my business revenue, but rather advantage my business by boosting revenue and allowing my business to better take control of the market.

I aim to achieve huger profit in the long run, so as to aid the growth of my business.

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While societies are trending towards EVs, how does Singapore, where there is still a large demand for fuel vehicles, transit to EVs? Would the speed of the transition be rapid enough to cover my losses once I start selling EVs?

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The main role of Original Equipment Manufacturers (OEMs) in the production line is to provide the necessary components to be used in the production of another end product by that of a separate company, meaning OEMs manufacture the necessary components of a EV and the car company would use those components to manufacture an EV.

Currently, it may not be so lucrative for businesses to opt for the blanket sale of EV as the production cost is extremely high and the low demand simply cannot compensate losses and guarantee profits.

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The demand for EVs in the Singapore market is currently too low for any profits to be made, and thus businesses lack economic incentives to transit to the sale of EVs solely.

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1. Free-market economy model in Singapore
2. Support for the transition to green-friendly alternatives in Singapore

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We can assume that the government supports the transit to EVs and is considering how best to minimise the consequences on businesses and to incentives the populace at large to purchase EVs over fuel vehicles.

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The government would probably implement policies spearheading the transition from fuel vehicles to EVs, allowing the populace to ease into this change gradually. However, businesses which are unable to adapt may receive the brunt of the impact, and may not be able to sustain the previous level of profits.

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Automobile companies
Singapore government
General population (Sentiments towards EVs)
Ministry Of National Development (Feasibility of constructing many charging points for EVs round the island)

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The purpose is to protect OEM's interests especially in the long term. This includes minimizing risks and losses at the start, gaining enough profits to thrive in the long term, and to push for the Singapore government to introduce policies that would advantageous towards OEMs, especially to the long-term growth of the EV sector in Singapore.

I aim to achieve to earn more profits and ensure the sustainability of my business.

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How do we incentivise or encourage locals to move towards using electric vehicles?
Will electric vehicles be publicly supported by the government?

Will there be the financial support from the government at the beginning when losses are inevitable?

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The main purpose of is to ensure that while these policies which are being introduced to Singapore makes a positive impact in the society, i want to ensure that my business does not lose its revenue and instead even make progress and improvement.

An important consideration for me to have is the amount of time that will truly be needed for the traction of EV in Singapore to be gained and whether my company will be sustainable at this point of time/ in the long run.

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What are the limitations of Singapore moving towards EV if there are plenty of benefits especially towards the environment?

How long will the process of having Singapore move towards EVs take, in what way will this affect my business?

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The purpose of our discussion is to predict the growth of the EV industry in Singapore / the future of the car market and then assess whether we have the necessary policies to support this prediction. All of this is to allow my business to have better control of the market and gain the most profit.

What I hope to achieve is that while Singapore is slowly making the transition to EVs (to meet SG Green Plan 2030), it does not cause my business to face any significant risk.

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Moving towards EVs in Singapore may prove to be a difficult task to establish in the nearer years as it is an expensive solution. Allowing the sector to gain traction could be a difficult issue to tackle when setting up a company in this industry is already proving to be difficult.

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we can assume that in order for Singapore to move towards a more environmentally friendly lifestyle, the implementation of EVs and the entry of such an industry would be inevitable since curbing carbon emissions from traditional cars would decrease a large amount of carbon emissions in the country. The government would have to find ways to slowly introduce such a sector and implement policies to show the benefits of EVs in Singapore.

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EVs are an expensive business and EVs themselves are also capital expensive. Even the biggest and most well known companies in the sector are struggling to keep up to sustain their businesses in the EV sector, having to start up such a business in Singapore may be tough especially since there is little traction of this industry in Singapore thus far.

In other countries however, people are eager to buy EVs. However, this also comes with a problem that if an OEM doesn’t show up with a serious EV, it will not stand a chance in the industry. Perhaps, if Singapore were to be able to gain enough traction in this aspect, the industry will be able to grow at greater speeds as well.

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While Singapore is slowly shifting to the use of EVs, what is the actual demand for it like?

What are the potential disadvantages of switching to EVs (that will also affect my business)?

How can policies and the government help in influencing the future of the car market?

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1. the profit margin of having to set up a company in the industry. the reason for businesses not being able to gain traction in Singapore could be due to this.

2. what do OEMs need exactly that Singapore may not be able to provide in terms of perhaps resources and circumstances.

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- Singapore's government stance and outlook
- citizens (basically targeted audience)
- public commuters
- car owners
- automobile companies
- Electronic Vehicles Association Singapore

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Having the government to step in and implement new policies to help this industry to gain traction will make it easier for more OEMs to establish themselves in the industry. If it becomes easy, will there be more companies that will be working towards this in a short amount of time, there could be a spike in competition in the industry. More creative ideas would have to be thought of in order for the business to be sustainable.

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-those who have businesses in the traditional car sector
-people that may still choose to go for the traditional automobiles instead of moving towards EVs
-other OEMs that may be looking to start a business in the sector as well.

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Government

Public’s opinion (target market) --> car owners, public commuters

Automobile companies

EVAS

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We can assume that the government and the policies made will be supporting the transition to EVs more (to meet SG’s 2030 target) → and that this will play a key influence as to how our car market will look like.

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- The Singapore government would be in support of the rolling out of electric vehicles (to even dominate the market).

- There is this possibility of electric vehicles to gain traction and continue to be popular in the future.

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The purpose of this discussion is to make sure that whatever policy implemented by the government to reduce carbon emissions and promote green transportation creates an ideal scenario for the EV sector to thrive and for me to set up my business. I aim to maximize my profit over the years.

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1. How long will it take for the government to roll out EVs?

2. How will car owners be incentivised to make the switch to EVs?

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OEMs manufacture and provide components for another company's product, termed Value Added Resellers or VARs who then sell their product to the public, and in this context the VARs would be EV companies. However research and development (R&D) of green technologies would be required for businesses and EVs to progress. If successful, it would enable me to profit more from manufacturing and selling components to the EVs. But R&D could fail and might take a long time to be successful and until then I might not be able to profit a lot off of my business.

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The government will need to invest more into green technologies and fund our R&D so that the EV sector can progress. We also need more people to use EVs instead of petrol-fueled cars in order to profit.

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1. Is there any projection or prediction for how long it will take to thoroughly research green technologies and EVs (or at least enough to kickstart the EV sector)

2. How successful have OEMs and EVs been in other countries?

3. What has contributed to their success or enabled them to profit as much as possible?

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We can assume that the government has the resources and money to invest into the EV sector.

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The government will probably find a way to incentivise car owners to switch to EVs so that the EV sector can thrive and consequently OEMs as well. Perhaps the government would also have some grants for EV companies and OEMs so that it will be easier for them to start off the business and tide them over until they are able to break even and profit.

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car owners, petrol companies and public commuters

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To ensure that policies crafted in Singapore allow for OEMs like myself to thrive in the Singaporean market, with minimal risks of failed ventures due to government regulations. As part of this discussion, OEMs will advocate for more resources to be dedicated to setting up the EV industry as that will benefit my businesses.

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In what ways can the Singapore government support R&D by OEMs?

How will current and future policies impact the development and production of EVs in Singapore, and how can consumers be incentivized to take up EV ownership?

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As OEMs, our primary role is to manufacture components for other producers/manufacturers to use in their products. In the Singaporean context, the low take-up rate of EV ownership results in a reduced demand for EV production, thus affecting OEM's business and stake in this sector.

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Firstly, more investment and resources are needed to boost my business in Singapore, as the take-up rate for EV ownership must increase in order to benefit my businesses.

Secondly, it is not viable to expand research and business in Singapore as there isn't a conducive playing field and market here.

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We need to better understand the reason(s) behind Singaporeans' low take-up rates for EV ownership.

We must also understand the role of OEMs and other stakeholders in the production line to better analyse how to improve the way production of EVs is conducted here.

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1. OEMs are highly-reliant on consumers' and EV producers' demands for business

2. Singaporeans are generally unenthusiastic about the roll-out of EV technology

3. The Singaporean government has a vested interest in rolling-out EVs, although stakeholders are not completely aware of their dedication to this task

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A lack of interest (from consumers) in EV ownership would ultimately harm OEMs' businesses. The Singapore government must also explore various ways to not only boost research and production, but also Singaporeans' enthusiasm about EV technology

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What consumers feel about EV technology, the government's ability and willingness to invest in this sector, EV companies stake in this issue