How to Make Full Use of Electric Heavy Vehicles Incentives

Maximise Your Savings with Singapore’s Heavy Vehicle Zero Emissions Scheme (HVZES) Incentives

Singapore’s Budget 2025 is a game-changer for electric heavy vehicles (eHGVs). PM Wong announced significant incentives for companies to own and operate eHGVs and chargers.

On the 1st of January 2026, the LTA will introduce the Heavy Vehicle Zero Emissions Scheme (HVZES) and Electric Heavy Vehicle Charger Grant (EHVCG).

Here’s how you can maximise these incentives.

PM Wong Delivering Budget 2025 Speech

Key Incentives:

1. S$40,000 for eHGV (GVW >3,500kg) Buyers

   1. Buyers need to hold the vehicle for at least 2 years.

   2. Upon Registration: S$13,000

   3. First Anniversary: S$13,000

   4. Second Anniversary: S$14,000

      
      

2. Up to 50% or S$30,000 Co-Funding per Charger 

   1. Only applicable to the first 500 chargers.

   2. Each charger must be accompanied by the purchase of 1 eHGV.

   3. Chargers must have a minimum output of 50kW.

      
      

How to Maximise Your Savings:

1. Charger-First Approach:

• Installation and quoting of chargers require careful planning. It is important to get a head start now. You can tap into EcoSwift's experience in operating the largest charging hub in Southeast Asia.

• Limited to only 500 chargers, on a first-come, first-served basis. Getting ahead of everyone else is important.

• Install all 3 chargers at your site to maximise incentives. If you are unable to purchase 3 units of eHGVs, contact us to see what packages and options you can have to maximise the incentives.

• EcoSwift can help you install fast chargers even with limited electrical capacity.

2. Plan Your Fleet Strategy:

• Start planning now, as incentives begin in 10 months.

• Incentives for our SANY EV490 prime movers are available now! Contact us for more info!

• EcoSwift is offering special packages for an early booking of the SANY FR601 Class 3, 15 ft lorry.

• For vehicles with expiring COEs, EcoSwift offers solutions to bridge the gap until incentives start.

• Investing in eHGVs now saves on long-term fuel and maintenance costs compared to diesel trucks.

Get Expert Advice:

Contact EcoSwift representatives for personalised guidance on maximising these incentives. You may find our contact here!

-Ryan Woon

Official LTA Announcement