The COE premium for Category C, which includes goods vehicles and buses, also hit a record of S$95,000.

The COE premium for Category C, which includes goods vehicles and buses, also hit a record of S$95,000.

The surge in premiums comes ahead of the December 31 expiry of incentives given by the government to encourage EV adoption.

The price of a “certificate for entitlement” for a small vehicle rose to nearly $100,000 in the latest round of bidding.