Tesla relaunches in Singapore – Model 3 SR+ from RM488k, Performance from RM615k, with current COE

Tesla’s return to Singapore has begun with the activation of its sales portal for the republic, The Straits Times reports. The site currently lists the upcoming availability of the Model S Plaid, Model X facelift (also, the Plaid) and the Model 3, although only the estimated price of the Model 3 is offered at the moment.

The estimated price of the Model 3 Standard Range Plus (SR+) rear-wheel drive is S$112,845 (RM344,290) before the cost of the Certificate of Entitlement (COE) is factored in. Ticking the full self-driving capability option adds S$11,500 (RM35,090) to the cost, and brings the price to S$139,822 (RM426,600), excluding COE.

Pricing of the COE, which represents a right to vehicle ownership and use of the limited road space for 10 years, is not static – the rates are revised twice monthly, and that presently listed for February 2021 has the COE rate for Category B (car above 1,600 cc or 97 kW) at S$46,790 (RM142,755).

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As such, the price of the Model 3 SR+ would be S$159,815 (RM487,600) based on the current projection and estimates, and S$186,792 (RM569,900) with the full self-driving system added on.

Buyers going the Model 3 Performance route will have to fork out S$154,815 (RM472,340) excluding COE for the dual-motor all-wheel drive variant, and adding on the full self-driving capability will up that to S$181,792 (RM554,650). With the current COE factored in, the estimated price of the Performance inclusive of the COE is S$201,605 (RM615,093), and S$228,582 (RM697,400) with the self-driving system added on.

Performance specs listed for the Model 3 SR+ include a 448 km operating range (WLTP), 0-100 km/h time of 5.6 seconds and a 225 km/h top speed. As for the Model 3 Performance, the relevant numbers are a 567 km operating range, a 0-100 km/h sprint time of 3.3 seconds and a 261 km/h top speed.

Tesla’s return marks a year since the Singapore government announced in its 2020 Budget that it would introduce better incentives to encourage the adoption of greener vehicles, as well as come up with a plan to expand the EV charging network exponentially across the island.

Tesla models will be eligible for the EV Early Adoption Incentive (EEAI), which began on January 1, 2021, and is in effect until December 31, 2023. Under the incentive scheme, Tesla buyers will receive a 45% rebate from the Additional Registration Fees (ARF), which is currently set at a maximum of S$20,000 (RM61,020).

The cars will also benefit from the vehicular emissions scheme (VES) rebates. From January 2021 until December 31, 2022, enhanced VES rebates for clean vehicles in bands A1 and A2 have been increased to S$25,000 (RM76,280) and S$15,000 (RM45,770).

As Tesla vehicles are pure electric, they qualify under bands A1 or A2 (model dependent) – in the case of the Model 3, this is S$25,000, applicable when order and delivery of a vehicle occurs within the effective period. The estimated prices of the Model 3 mentioned above are inclusive of the S$45,000 (RM137,300) combined rebate available for the car.

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