KEY HIGHLIGHTS
- EV adoption is rising fast as Singapore pushes toward an EV-ready nation by 2025.
- Government rebates can shave off up to $40,000 from the cost of a new electric car.
- Running costs drop sharply thanks to lower charging expenses compared to petrol.
Singapore’s shift toward electric cars isn’t slowing down. All Over singapore city, you can already see charging stations popping up at carparks, malls and even some HDB estates. With the Government promising EV-ready towns by 2025, many drivers are starting to ask a simple question: Is it finally worth buying an electric car in Singapore?
The short answer: it can be—if you understand the numbers. Below, we break things down like how we’d explain it to a friend at the Kopitiam.
EV vs Petrol Car – What You’re Really Paying For
| Factor | EV (e.g., Kona Electric) | Petrol/Hybrid (e.g., Kona Hybrid) |
|---|---|---|
| Estimated cost per 100 km | $4.14 | $13.52 |
| Monthly cost (1,000 km) | $41.40 | $135.20 |
| Annual charging/fuel cost | $497 | $1,620 |
| Road tax | Higher (incl. $700 EV surcharge) | Lower |
| Rebates available | Up to $40,000 (EEAI + VES) | Limited |
Types of Electric Cars You Can Buy in Singapore
Let’s run through the three categories you’ll see at showrooms today.
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1. Battery Electric Vehicles (BEVs)
These are the full-electric models—no petrol tank, no engine noise, just a quiet ride.
Cars like the Tesla Model 3 (~$199k) and MG 4 EV (~$159k) are popular choices.
You charge them using AC chargers at home or DC fast chargers at public lots. They’re the cleanest option and qualify for the highest rebates.
2. Plug-in Hybrid Electric Vehicles (PHEVs)
Think of them as electric cars with a safety net.
You can run on electricity for short commutes, then switch to petrol when needed.
Good for drivers who want flexibility—especially if your block doesn’t have charging yet. Examples include the BYD Sealion 6 Plug-in Hybrid (~$226k).
3. Hybrid Electric Vehicles (HEVs)
These don’t plug in at all.
The battery charges while you brake, which helps reduce petrol use.
If you don’t have consistent access to charging, HEVs like the Toyota Prius Hybrid (~$195k) might be the safer bet.
Price Guide: How Much Different EV Models Cost Today
Prices are based on recent listings from Sgcarmart, with COE roughly $109,000 (Cat A) and $129,890 (Cat B) at the time of writing.
| Car Model | Price (with COE) | Max Range |
|---|---|---|
| Audi Q4 e-tron | $302,000 | 466 km |
| BYD Atto 3 | $178,000 | 420 km |
| MG 4 EV | $159,000 | 450 km |
| Tesla Model 3 RWD | $199,000 | 520 km |
| Hyundai Ioniq 5 | $226,000 | 384 km |
| Volvo EX30 | $223,000 | 337 km |
Most BEVs now come with 300–500 km range, enough for daily Singapore driving without stress.
Government Rebates: How Much Money You Actually Save
This is the part that gets everyone interested.
EV Early Adoption Incentive (EEAI)
Valid from 1 Jan 2024 to 31 Dec 2025
You get:
- 45% ARF rebate (capped at $15,000)
- Minimum ARF of $0 until end-2025
From 2026, the cap halves to $7,500.
Vehicle Emissions Scheme (VES)
If your EV qualifies for Band A:
- $25,000 rebate in 2025
- $22,500 in 2026
- $20,000 in 2027
So what’s the total?
If you buy before 31 Dec 2025, your combined rebates can reach:
👉 Up to $40,000
From 2026 onward, it drops to about $30,000 max.
This alone has pulled many drivers toward BEVs—especially with COE so high.
Road Tax for EVs: Yes, It’s Higher
EVs pay more road tax because they don’t contribute to fuel duties.
Example:
A Tesla Model 3 (110 kW) pays:
- $861/year base road tax
- +$700 EV surcharge
- Total: $1,561/year
Still, many drivers feel the charging savings help offset this.
Charging Costs: The Real Savings Come Here
We compared the Hyundai Kona Electric with the Kona Hybrid, assuming:
- 1,000 km/month
- Normal home/office charging
EV (Kona Electric)
- Energy use: 13.8 kWh/100 km
- Electricity rate: 30.03 cents/kWh
- Cost per 100 km: $4.14
Hybrid (Kona Hybrid)
- Fuel price: $2.88/l
- Cost per 100 km: $13.52
That means…
You save roughly $93.80 per month, or $1,125 a year.
If you charge mainly at public DC fast chargers (Shell Recharge, SP Mobility), your cost will be higher. For many EV owners, savings vary depending on:
- whether you can charge at home
- your driving distance
- access to workplace charging
Still, most drivers switching from petrol feel the drop in running cost almost immediately.
Is It Financially Worth Buying an EV Now?
If you drive regularly and intend to keep your car for years, the rebates + lower charging cost make EVs more attractive than they were three years ago.
But it depends on your situation:
- No access to home charging? You may want to consider a PHEV.
- Often travel across the island? Look for EVs with 450 km+ range.
- Want the cheapest running cost? A full BEV gives the best value.
What’s clear is that Singapore is moving fast toward electrification, and petrol cars are slowly becoming the expensive option.
FAQs About Buying an EV in Singapore (2025)
1. Is it cheaper to run an EV than a petrol car?
Yes—charging at home or work is significantly cheaper than petrol for most drivers.
2. Do I need my own charging station?
Not compulsory, but it helps. Public chargers are growing, but home charging is cheaper and more convenient.
3. How long does it take to charge an EV?
AC charging takes hours.
DC fast charging can bring you from 20% to 80% in about 30 minutes, depending on the model.
4. Will COE be lower for EVs?
No—EVs fall under the same COE categories as petrol cars.
5. Are EV batteries expensive to replace?
Yes, but most manufacturers offer 8-year battery warranties, covering defects and major issues.
