February 2021 was the month where electric cars in Singapore became a viable option for many Singaporeans looking to buy a new car. This was when Tesla launched its sales portal to allow Singapore customers to order directly from them. Following that, the Singapore government also announced that it intends to encourage Electric Vehicles’ adoption by rolling out the deployment of 60,000 charging points at public car parks and private premises by 2030.

On the flip side, the government also announced an increase in petrol duty that would make it more expensive to continue driving cars that run on gasoline (which will affect most cars in Singapore). Also, from 2025 onwards, new diesel cars and taxis will not be allowed to register in Singapore. All these are clear indications that cars of the future, in Singapore at least, are likely to be powered by electricity.

Read Also: Petrol Duty Increase & Road Tax Rebate: How Much More Will You Be Paying To Drive A Car In Singapore?

In this article, we will provide a breakdown of how much you can expect to spend if you wish to buy and own an electric car in Singapore.

Types Of Electric Cars In Singapore

First, it’s worth noting that there are three main types of electric cars that you can find in Singapore.

Battery Electric Vehicles (BEVs): These are cars that are fully powered by electricity only. They do not have an internal combustion engine and use no fuel, so there is no option to run them via gasoline. Most of these cars are also capable of both direct current (DC) fast-charge and also the slower alternating current (AC) charge.

Examples of BEVs include the Audi e-tron (about $333,000) and Tesla Model 3 (about $157,000). More affordable options include the MG ZS Electric (about $116,000) and the BYD e6 Electric ($103,000).

Plug-in Hybrid Electric Vehicles (PHEVs: These are cars that can run on both electricity and petrol. PHEVs can run on electricity for some distance being switching to gasoline when the electric battery is depleted. In some sense, they offer the best of both worlds. You can charge it at an EV charging point and yet, have the option of using gasoline as well to give you additional mileage without being worried about having to find a charging point.

Examples of PHEVs in Singapore include the Mercedes-Benz GLC-Class Plug-in Hybrid (about $278,000), BMW X3 Plug-in Hybrid (about $267,000) and the Volvo S60 Plug-in Hybrid (about $270,000).

Hybrid Electric Vehicles (HEVs): While they have both an internal combustion engine and an electric motor, HEVs cannot be plug-in to charge the car. Rather, the battery is charged through regenerative braking. The result is that it gives you better fuel efficiency. If you don’t have regular access to a charging point, it might be better to consider a HEV.

Many popular car models today are HEVs such as the Kia Niro Hybrid (about $102,000), Honda Jazz Hybrid (about $99,000) and the Toyota Prius + Hybrid (about $127,000).

Prices Of Electric Cars In Singapore

When it comes to PHEVs and HEVs, there are many models available in Singapore. However, battery-only powered electric cars are a lot less common and there are only a handful of models available in Singapore today. Here are some fully-electric car models that you can buy in Singapore.

All prices and information below are as found from SgCarMart or as reported by the manufacturers. COE prices as of the point of writing are $41,996 (Cat A) and $45,001 (Cat B).

Car Model Price (inclusive of COE) Maximum Range
Audi e-tron Sportsback $333,461 347 km
BYD e6 $103,888 400 km
Hyundai Ioniq Electric $129,999 311 km
Hyundai Kona Electric $132,888 312 km
Kia Niro Electric $162,999 480 km
MG ZS $116,888 335 km
Nissan Leaf $131,988 311 km
Renault Zoe $115,999 367 km
Tesla Model 3 Standard Range $157,846 448 km

 

Read Also: 5 Cheapest Electric Cars In Singapore

What Rebates Do I Get If I Buy A Fully Electric Car In Singapore Today?

To encourage the early adoption of fully-electric cars in Singapore, the government has introduced the EV Early Adoption Incentive (EEAI).

From 1 January 2021 to 31 December 2023, electric cars registered in Singapore will receive a rebate of 45% off their Additional Registration Fee (ARF). This is capped at $20,000, and also subject to a minimum ARF payable of $5,000. This minimum ARF payable of $5,000 will be lowered to $0 for electric cars registered between January 2022 to December 2023.

For example, if you buy the Tesla Model 3 today, you will receive the full EEVI of $20,000.

In addition, you also receive the Vehicle Emission Scheme (VES) rebate, which can be as high as $25,000 if the car qualifies for the highest band of A1.

In other words, the total rebate for ARF can be as high as $45,000 for electric cars in Singapore. Do note, there is a minimum ARF payable of $5,000, which will be lowered to $0 from January 2022 to December 2023.

Read Also: Guide To Understanding Vehicle Emissions Scheme (VES) In Singapore

Road Tax Cost For Electric Cars

If you are buying an electric car, the road tax schedule is different from regular cars. Here’s how it’s calculated.

Source

There is also an additional tax of $700/year for fully electric cars, since fully electric cars do not pay fuel excise duties. This will be phased in over the next three years.

Licensing Period Annual Rate
1 January 2021 to 31 December 2021 $200
1 January 2022 to 31 December 2022 $400
1 January 2023 onwards $700

 

For example, a car like the Hyundai Ioniq Electric with a power rating of 100 kW will incur 6-month road tax of $430 [$475 + $7.50 (100-90)] X 0.782], or $860 a year. After adding the additional road tax of $200 (from 1 January 2021 to 31 December 2021), the annual road tax for the car is $1,020. By 2023, this will increase to $1,520 once the full additional tax of $700/year is applied to electric cars.

In contrast, the Hyundai Ioniq Hybrid model has an annual road tax of $732.

For the Tesla Model 3 with a power rating of 239kW, road tax is $2,726 a year. By 2023, this will increase to $3,226.

Charging Points Access And Price

While the annual road tax that you pay is higher, you will also save on fuel cost. But how much exactly can you expect to save?

To make a fair comparison, we decided to compare the Hyundai Kona Electric with the Hyundai Kona Hybrid. We assume a monthly usage of 1,000 km, which means you drive about 33 km on average each day.

Energy Usage Electricity Tariff: Cost per 100 km
Hyundai Kona Electric 13 kWh/100km 22.1 cents/ kWH $2.87
Fuel Consumption Petrol Price Cost per 100 km
Hyundai Kona Hybrid 23.3km/L $2.20/l $9.44

 

From the table above, we can expect to save about $65.70 each month, assuming a mileage of 1,000 km. This translates to savings of about $788.40 each year.

Do note that the figures above are based on the assumption that you have access to your own charging station at home or in the office. If you intend to charge at an external EV charging point such as Shell Recharge, it costs $0.55 per kWh. Blue SG charges $1 for the first three hours and $2 for subsequent hours, with an average supply of 3.7 kW of electricity per hour. So how much you end up saving will depend on 1) where you charge and how much you pay for electricity as well as 2) how often you drive.

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