(From left): Group CEO of OCBC Bank, Ms Helen Wong; Minister for Sustainability, and the Environment, Ms Grace Fu; and Deputy Head for Research, NUS Department of Economics, Assoc Prof Alberto Salvo
This will be Singapore’s largest dedicated study to understand the factors that best influence the adoption of electric vehicles.
OCBC Bank and the National University of Singapore (NUS) announced the start of the nation’s largest dedicated study to understand the most effective nudges to adopt electric vehicles (EV) by Singaporeans. A total of 32,000 OCBC Bank customers will contribute to the study, which is expected to span three months. They will be selected on the basis of having a high likelihood of replacing their cars in the coming years.
Through the study, OCBC Bank and NUS aim 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. The persuasiveness of the different factors will be gauged by studying anonymised data from the 32,000 customers, including transit spending, fuel purchases on OCBC cards and EV transition rate.