, Singapore
190 views
Photo courtesy of Terence Ong (Wikimedia)

OCBC, NUS commence study to encourage EV adoption in Singapore

A total of 32,000 OCBC customers are expected to participate in the study.

OCBC and the National University of Singapore (NUS) have announced a study on the most effective ways to get Singaporeans to adopt electric vehicles.

It is expected that 32,000 OCBC customers will contribute to the three-month study, with OCBC and NUS touting it aSingapore’s largest dedicated study to encourage EV adoption. The full research paper is expected to be released in Q2 2023.

The study aims to uncover nudges that best push consumers to make the switch to EVs, such as concerns over cost of EV ownership in the long-run or climate-damaging carbon emission levels of petrol and diesel vehicles. 

ALSO READ: OCBC net profit rose 7% to S$2.83b in H1

The persuasiveness of the different factors will reportedly be gauged by studying anonymised data from the 32,000 customers. These include transit spending, fuel purchases on OCBC cards and EV transition rate, according to OCBC and NUS.

Associate Professor Alberto Salvo from the Department of Economics at the NUS Faculty of Arts and Social Sciences will lead the NUS research team. The team also comprises GAI environmental and behavioural economists, along with an expert on the US and Chinese EV markets from Cornell University.

ALSO READ: OCBC invests S$25m to reduce carbon footprint in operations

Currently, EVs represent less than one per cent of Singapore's total car population according to Singapore’s Land Transport Authority. The study is expected to help businesses and organizations in accelerating adoption of EVs in order to meet Singapore’s goal of phasing out petrol and diesel vehicles by 2040.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!