Singapore has the most expensive cars in the world due to COE, ARF and other taxes — but EVs receive substantial ARF rebates and VES (Vehicle Emission Scheme) bonuses. Charging infrastructure has grown rapidly through SP Group, Shell Recharge, and BYD networks. Petrol prices are high, but electricity costs are also moderate. This guide runs the numbers with Singapore prices.
Cost per kilometre
EV: 17 kWh/100 km. Home charging residential SGD 0.35/kWh: SGD 0.060/km. Off-peak time-of-use SGD 0.25/kWh: SGD 0.043/km. SP Group public charging SGD 0.55/kWh: SGD 0.094/km. Tesla Supercharger SGD 0.62/kWh: SGD 0.105/km.
Petrol: 7.5 L/100 km. 95-octane SGD 3.20/L: SGD 0.240/km. 98-octane SGD 3.50/L: SGD 0.263/km.
Charging in Singapore
- Home charging: SGD 0.30–0.40/kWh on standard residential rate. HDB carparks increasingly include EV chargers.
- SP Group: Largest public network in Singapore. Standard SGD 0.55/kWh.
- Shell Recharge: At Shell stations and other locations.
- BYD Charging: BYD-branded network expanding.
- Tesla Supercharger: Multiple locations across the island.
Singapore EV Incentives
- EEAI / ARF rebate: Additional Registration Fee rebate of up to SGD 25,000 for new BEVs registered through EV Early Adoption Incentive (EEAI). Extended through 2026.
- VES (Vehicle Emission Scheme) A1 band: BEVs receive SGD 25,000 rebate (Band A1 for ultra-low emission). Stackable with EEAI.
- Road tax: Reduced for EVs. Power-band based — typical EV road tax SGD 700–1,200/year vs SGD 1,500–2,500 for petrol.
- COE: Same Category B/A as petrol (no separate EV category). High prices apply equally.
- ERP (Electronic Road Pricing): Same charges for EV and ICE.
Maintenance
Singapore EV maintenance 30–40% cheaper than petrol equivalents. No oil changes, no timing belt, no exhaust system. Inspection every year (after 3 years) — simpler for EVs.
Insurance
Singapore EV comprehensive insurance 10–25% more expensive than petrol equivalents. Tesla Model 3 or BYD Atto 3 typically SGD 2,500–4,000/year. Compare NTUC Income, Aviva, AIG, MSIG.
5-year comparison
Singapore driver, 16,000 km/year:
EV (off-peak home charging): SGD 3,440 electricity + SGD 1,750 maintenance + SGD 4,500 road tax + SGD 17,500 insurance + SGD 60,000 depreciation = ~SGD 87,190 (before EEAI/VES rebates)
With EEAI SGD 25,000 + VES SGD 25,000 applied: ~SGD 37,190 net of rebates (rebates affect upfront price, not 5-year operating)
Petrol: SGD 19,200 fuel + SGD 4,000 maintenance + SGD 9,000 road tax + SGD 14,000 insurance + SGD 35,000 depreciation = ~SGD 81,200
With EEAI and VES rebates totalling SGD 50,000 applied to upfront price, the EV becomes substantially cheaper. Pure 5-year operating costs already favour EV by SGD 6,000+ excluding rebates.
Which should you choose?
- Choose an EV if: You qualify for EEAI/VES rebates; you can charge at home or workplace; you do 12,000+ km/year; or you want quieter, smoother driving in Singapore traffic.
- Choose a petrol car if: You can't access home/workplace charging; you make frequent trips into Malaysia (charging logistics); or you want lowest possible upfront price (subject to COE).
