Electric Cars in Singapore: Are They Worth the Hype?

Electric vehicles (EVs) are rapidly gaining popularity across the globe — and Singapore is no exception. With rising fuel prices, increasing environmental awareness, and strong government support, many Singaporeans are asking:
Are electric cars really worth the hype?

In this article, we’ll dive into the advantages, challenges, and real-world value of owning an EV in Singapore.

Why Electric Cars Are Gaining Traction in Singapore

1. Government Incentives & Rebates

Singapore offers generous rebates to encourage EV adoption. Under the EV Early Adoption Incentive (EEAI), buyers can enjoy up to $20,000 in upfront rebates. This stacks with the Vehicular Emissions Scheme (VES) which adds up to $25,000 in total savings.
Source: LTA - EV Early Adoption Incentive

2. Lower Operating Costs

Compared to petrol or diesel cars, EVs are cheaper to operate. On average, charging at home costs around $0.20–$0.30/kWh, which translates to about 2–3 cents per km.
Source: SP Group EV Charging Rates

3. Environmental Benefits

EVs emit zero tailpipe emissions, contributing to better air quality in dense urban areas. This aligns with Singapore's Green Plan 2030, which aims to reduce carbon emissions and promote sustainable transport.
Source: Singapore Green Plan 2030

4. More Models, More Options

From Tesla to BYD, Hyundai, Kia, and even MG, more EV options are now available in Singapore — ranging from affordable compacts to luxury SUVs.

Challenges of Owning an Electric Car in Singapore

1. Charging Infrastructure Still Expanding

Singapore aims to install 60,000 EV charging points islandwide by 2030, but access is still inconsistent — especially in older HDBs and private condos without charging-ready infrastructure.
Source: LTA - Charging Point Target

2. Higher Upfront Cost (Even with Rebates)

While rebates help, most EVs still carry a higher base price. For instance, a new Hyundai Ioniq 5 starts from $160,000–$180,000 with COE, whereas a similar petrol model like the Toyota Corolla Altis starts from $120,000.

3. Battery Life & Range Anxiety

Though modern EVs offer 300–500 km of range, long-distance travel (e.g. to Malaysia) may still cause range anxiety due to fewer fast-charging stations across the causeway. Additionally, battery degradation over years may affect resale value.

So, Are EVs Worth It in Singapore?

Yes, if you:

• Have access to home or workplace charging,

• Drive mostly within Singapore,

• Want to save on fuel and maintenance in the long run,

• Are environmentally conscious and ready to embrace clean tech.

But reconsider if you:

• Live in a condo/HDB without charger access,

• Travel frequently to Malaysia or long distances,

• Prefer lower upfront vehicle costs.

Singapore is moving full speed ahead toward an electric future. With strong government support and improving infrastructure, EVs are no longer just a trend — they're becoming the norm.

However, before you make the switch, consider your daily routine, budget, and long-term plans. The hype is real — but only if it fits your lifestyle.

Looking for an Electric Car in Singapore?

If you're considering buying a pre-owned electric vehicle, visit Carz World — a trusted platform in Singapore offering a wide range of EVs from popular brands like BYD, Hyundai, etc We're here to help you find the right vehicle that matches your needs, budget, and preferences — complete with flexible financing options and after-sales support to make your purchase smooth and hassle-free.

🔗 Explore our electric vehicle collection at:
👉 www.carzworld.com.sg

Or contact our team for free consultation and the best deals available today.