• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

3

Current price of oil as of June 23, 2026
TechElectric vehicles
Asia

Chinese EV brands make their presence known at the Singapore Motor Show

By
Lionel Lim
Lionel Lim
Asia Reporter
Down Arrow Button Icon
By
Lionel Lim
Lionel Lim
Asia Reporter
Down Arrow Button Icon
January 13, 2025, 3:14 AM ET
Visitors watch a BYD Yangwang U9 EV on display at the Singapore Motor Show in Singapore on Jan. 9, 2025.
Visitors watch a BYD Yangwang U9 EV on display at the Singapore Motor Show in Singapore on Jan. 9, 2025.Roslan Rahman—AFP via Getty Images
Add Fortune on Google for similar content.

The EV revolution was on full display at the Singapore Motor Show. Just about every car brand at the Suntec City exhibition hall, which hosted the car show from Jan. 9 to 12, showed off at least one hybrid or battery electric vehicle, as world car markets continue their drive away from internal combustion engine (ICE) vehicles.

Recommended Video

“Customers in Singapore are increasingly willing to embrace electrification,” Ron Lim, head of sales and marketing at Tan Chong Motor Sales, which sells Nissan models in Singapore. (Parent company Tan Chong Motor Holdings, based in Malaysia, is No. 430 on the Fortune Southeast Asia 500, which ranks the region’s largest companies by revenue).

Singapore’s government wants to phase out the sale of new ICE passenger vehicles by 2030. 

At the Motor Show, Chinese brands are capitalizing on the shift away from petrol. Eleven out of 28 brands participating at the show were from China. The list included newcomers, like Deepal and Jaecoo, debuted in 2023 by Changan Automobile and Chery respectively. The show also included relatively more established EV brands like Zeekr and Maxus, owned by Geely and SAIC Motor respectively. 

Chinese EV giant BYD, neck-and-neck with Tesla in global battery EV sales, was present at the show as well.

Nominations are now open:
Fortune is now accepting nominations for the 2025 Southeast Asia 500—the definitive ranking of the region’s largest companies. Start your nomination here.

 

 

 

Traditional carmakers like Hyundai, Mercedes Benz, and Nissan also displayed non-ICE cars at the convention.

Some Chinese EV carmakers, like Xpeng, Omoda and Jaecoo, were strategically placed on a level that allowed full access to the public, without requiring a ticket. And those that did buy a ticket were greeted by a massive BYD booth upon entering the paid area of the show.

BYD debuted its luxury supercar, the Yangwang U9, at the show. The company demonstrated the car twice a day, including its ability to turn on the spot and “dance.”

Motor Show attendee Martin Peh, who is self-employed and currently drives a ICE vehicle, said the U9 was something he “particularly wanted” to see at the exhibition. Chinese brands are “popping out everywhere,” he said when asked about the brands on display. “That just shows how capable [China’s] automotive industry really can be.”

Chinese cars were also priced competitively compared to the prices of other brands at the show.

Chinese brands have made pricing discussions “very interesting,” said a sales representative from Komoco Motors, which distributes Hyundai in Singapore. (The representative chose to remain unnamed as they were not authorized to speak for the company) Some exhibition goers expressed disappointment upon discovering that the Ioniq 5 and 6, assembled at Hyundai’s Singapore-based “Innovation Center,” were not cheaper than models produced outside the country.

Lim, from Tan Chong Motors, conceded that “new entrants to the market” have intensified the competition. Yet he argued that customers are still gravitating to established brands due to their decades of expertise and long-term support.

It’s still early days for Chinese EV brands in Singapore. BYD only started selling passenger vehicles in the Southeast Asian city in 2019. The Chinese EV giant was Singapore’s most popular vehicle brand by registration in the first half of 2024. (Toyota outsold BYD if sales of Lexus, its subsidiary, are included).

In recent years, Chinese brands like BYD have turned to the export market as a new source of growth, thanks to an extended price war in their home market. 

Yet Chinese EV makers are getting caught up in geopolitical frictions, some of which have already resulted in new tariffs in markets like the U.S. and the European Union. Analysts suggest that emerging markets in Southeast Asia are a better target for Chinese carmakers looking to go global, as governments in the region have better relations with Beijing. 

About the Author
By Lionel LimAsia Reporter
LinkedIn icon

Lionel Lim is a Singapore-based reporter covering the Asia-Pacific region.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

rh
AIReid Hoffman
Reid Hoffman says SpaceX is ‘not an AI company’ and xAI is a ‘complete train wreck’—and there’s room for both OpenAI and Anthropic
By Nick LichtenbergJune 24, 2026
1 hour ago
Tesla cofounder JB Straubel’s first pitch to Elon Musk failed. Then he turned his ‘hobby’ into a $1.3 trillion success
SuccessBrainstorm Tech
Tesla cofounder JB Straubel’s first pitch to Elon Musk failed. Then he turned his ‘hobby’ into a $1.3 trillion success
By Rachel VentrescaJune 24, 2026
3 hours ago
Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
RetailAmazon
Amazon Prime Day isn’t a midsummer shopping event anymore. Here’s what changed in 2026
By Vidhi Choudhary and Retail BrewJune 23, 2026
13 hours ago
The hidden cost of your AI rollout: burning out the high performers running it
Workplace Cultureburnout
The hidden cost of your AI rollout: burning out the high performers running it
By Mikaela Cohen and HR BrewJune 23, 2026
13 hours ago
Quantum computing stocks surge after Trump signed executive orders backing the sector
Investingquantum computing
Quantum computing stocks surge after Trump signed executive orders backing the sector
By Marco Quiroz-GutierrezJune 23, 2026
14 hours ago
Alan Greenspan testifying before the Senate Banking Committee.
BankingFederal Reserve
The man who invented the Fed’s magic trick just died. His successor is about to try it again
By Eva RoytburgJune 23, 2026
16 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
22 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
22 hours ago
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
Investing
Meet the 2 men putting New York's $300 billion pension fund in play for the first time in 20 years
By Nick LichtenbergJune 22, 2026
2 days ago
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
Success
Former U.S. Secret Service agent says bringing your authentic self to work stifles teamwork: 'You don’t get high performers, you get sloppiness'
By Sydney LakeJune 21, 2026
3 days ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.