Jeremy Ho

31 Aug 2021

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With Hyundai coming to SG, we foresee the automotive and EV supply chain to potentially move SG market rapidly within the next year. Which industry do ya'll think will be have high growth potential?

Focused only on Singapore market for EV and automotive industry. Let's not discuss on US/China markets, unless there's any potential for them coming to SG.

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Jared Lee

03 Sep 2021

Finance at Murdoch University

The consumer market (where the automative market is a part of that market) can only be as big as the demand in that market, any market driven purely on hype is not sustainable.

That being said, the automotive market in SG is pretty much limited in size and i see absolutely no growth potential(at best limited) compared to other countries because there's COE which is a tool to adjust supply & demand and not to mention the astronomically high price of a vehicle. A vehicle that costs $8000 in the U.S is going to cost at least 8-10x here.

Just because Hyundai is planning to setup a plant here doesn't mean the Singapore automotive/EV sector is going to suddenly explode as there's constraints that policy and pricing will not solve, like space constraint. If cars became as affordable as they were in the U.S tomorrow, everyone is going to run out and buy one. With so many cars on the road, how are you going to find enough road to drive it on?

All in all, i still think the EV trade is overcrowded at the moment. But you were asking for other high growth sector in Singapore and i think it's pretty bleak, except for maybe tech (Grab and Shoppeee)

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