The government aims to create EV clusters enhancing the capabilities of adjacent industries.
Bloomberg reports that the government is actively in talks with a number of green vehicle manufacturers following the earlier plan of British manufacturer Dyson to roll out its first EV unit by 2021.
Singapore is pitching its connectivity to global markets through free-trade agreements, its high-skilled workforce and stringent protection of intellectual property, which is critical for the industry, according to the government agency set up to attract investments to the country.
“Hopefully they won’t be the only one we land,” Chng Kai Fong, managing director of the Singapore Economic Development Board, said in an interview, referring to Dyson’s plans. “We’re in active negotiations or discussions with a couple of others. The whole idea is to build clusters."
Earlier this year, UK's richest man, James Dyson, announced plans to relocate his company's headquarters from the UK to Singapore in recognition of the growing importance of Asia to its manufacturing business. A vocal backer of Brexit, Dyson’s move was met by dismay by Leave supporters but was largely hailed as strategic given the company’s ambitious £2b plan to expand beyond the manufacturing of hand dryers, air purifiers and vacuums and into the heated electric vehicle (EV) space.
“It’s much more of a capital game than a labour game,” Chng said. “That plays to our strength.”
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