Tesla Motors pulls out of Singapore due to poor sales

Article by Christian Andrei, on February 18, 2011

It has only been six months after Tesla Motors established its base in Singapore but already, it has decided to pull out of the city state. Tesla, which makes electric cars, said that due to the lack of green technology tax break and subsidies from the Economic Development Board of Singapore, its business model will no longer be viable there.

If there are no tax breaks or incentives, the all-electric Tesla Roadster’s price will range from SGD400,000 to SGD500,000, a price that would put it near the most desirable Porsche or Maserati machines.

Initially, Tesla had hoped to receive the incentives, which would put the price of the electric sportscar at about SGD250,000.

The Economic Development Board, which is responsible for approving the tax break, said Tesla failed to meet 'technical requirements'.

A number of bookings had been registered, with the condition of tax breaks being grated. Several consumers have said that they want the car at the increased price but Tesla says they are too few to justify staying in Singapore.

Tesla Motors Asia-Pacific director Kevin Yu told The Straits Times that Singapore didn’t turn out to be the market they had hoped for. He said that since other markets’ governments and consumers are supporting Tesla and as Roadster has a limited run, the company has made a decision to focus its limited resources elsewhere.

Topics: tesla, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries