On January 4, 2024, the smart brand announced the launch and delivery to consumers of the smart Elf #1 project in the Singaporean market in the first half of 2024. Furthermore, the global CEO of smart, Tong Xiangbei, has reached a cooperation agreement with Hoi Fat Group. As the distributor of Mercedes-Benz in Singapore, Hoi Fat Group will also provide sales and service support for the smart brand.
In recent years, the Singaporean government has been actively promoting the popularity of new energy vehicles, implementing a series of tax concessions and subsidy policies to encourage consumers to turn to greener modes of transportation. This provides a favorable political environment for the smart brand’s entry into the Singaporean market.
Hoi Fat Group, with over a century of automotive dealership history, has plans in the field of new energy vehicles including the sales, maintenance and logistics services of electric vehicles. Their profound industry experience and comprehensive service network are important considerations for the smart brand in choosing them as partners. The Executive Director of Hoi Fat Group in Singapore, Fu Siren, is optimistic about the prospect of smart electric vehicles in the Singaporean market and looks forward to the smart brand achieving good results.
The smart brand’s entry into the Singaporean market not only provides local consumers with new options for electric vehicles but also signifies the further propagation of new energy vehicles in the global market. With the continuous advancement in new energy vehicle technology and growth in market demand, the collaboration between the smart brand and Hoi Fat Group is expected to boost the development of the new energy vehicle industry in Singapore and even across Southeast Asia.
This article is a translation by AI of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.