Tesla is about to launch in Singapore and could cost less than a Toyota Camry

– Feb. 8th 2021 4:10 pm ET

Tesla is finally about to launch in Singapore, where the automaker had a false start before, and the Model 3 could cost less than a Toyota Camry in the country.

Tesla in Singapore

In 2016, Tesla tried to launch in Singapore, but the automaker ran into some issues.

The first Tesla Model S owner in Singapore had problems with emission tests, of all things, and it was slapped with a SGD $15,000 (US $11,000) fine instead of a rebate after the Land Transport Authority (LTA) determined that the Model S was more polluting than a gasoline car of similar size.

Tesla tried to fight back against the ruling and issued a statement claiming that efficiency test results should have been almost three times lower than achieved through LTA’s tests.

The local government has since been a lot more responsive to electric vehicles, and now Tesla is giving it another go five years later.

Model 3 is coming to Singapore and it’s (sort of) cheap

Two versions of the Model 3 have started appearing on the Transport Authority’s fuel economy comparison site, confirming that the electric sedan is going to be available soon.

With strong fees associated with importing vehicles, but also incentives for electric vehicles, the Model 3 is expected to be cheaper than a Toyota Camry.

The Straits Times reports:

American electric-car maker Tesla has secured approval to start selling its cars here, which observers reckon could be priced from $145,000 – or less than a petrol-driven Toyota Camry.

Here’s how they come to that price:

Based on an estimated open market value (OMV, or car cost before taxes) of $44,000 for the Model 3 Standard Range and $62,000 for the Model 3 Performance, the two cars could be priced from $145,000 and $215,000 respectively. This is after taking into account additional registration fee, excise duty, registration fee, goods and services tax, certificate of entitlement, road tax for the first year and profit margin.

Tesla is expected to open orders in the coming weeks and confirm the price in the process.

There are already over 40 Tesla vehicles in the country, but they were imported privately from other countries instead of being sold by the automaker.

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Tesla is a transportation and energy company. It sells vehicles under its 'Tesla Motors' division and stationary battery pack for home, commercial and utility-scale projects under its 'Tesla Energy' division.