Electric Car Ownership in Singapore: A Complete Cost Worksheet
Build an EV budget from a real quote, charging access, metered energy, road tax, insurance and disposal assumptions.
An EV’s energy bill is only one part of ownership cost. Compare complete vehicles over the same holding period, using your charging routine and actual quotations.
Start with the final price
Record the variant, COE terms and final payable amount. If VES and EEAI are already reflected in the quote, do not deduct them again. For the 2026–2027 registration difference, use the dedicated incentive guide.
Estimate electricity at the meter
Suppose a hypothetical car uses 16kWh per 100km at the battery and travels 15,000km a year. That is 2,400kWh delivered to the battery. Assuming 90% charging efficiency, metered energy is 2,400 ÷ 0.90 = about 2,666.67kWh.
At an assumed all-in $0.60 per kWh, annual charging costs $1,600. The efficiency and tariff are scenario inputs, not measurements of a named car or a current provider offer. If your consumption figure already measures energy from the charger, do not add losses again.
For comparison, an assumed petrol car at 6.5 litres per 100km uses 975 litres over the same distance. At $2.80 per litre, that costs $2,730. The illustrative energy saving is $1,130 a year before other cost differences.
Price the charging routine
Record home and destination access, connector compatibility, charger availability and the tariffs you would actually use. Include applicable parking, idle or session charges once. Public charging may involve detours and waiting; assign those a value if they change your routine.
A private charger needs a property-specific installation assessment. Do not apply a generic installation price to an HDB resident or assume permission and electrical capacity.
Add the other ownership lines
Obtain insurance for the actual drivers and use. EV road tax depends on registered power and includes the applicable additional component; it is not automatically lower than petrol-car tax. Budget tyres, servicing, repairs and downtime rather than assuming an EV has no maintenance.
Check battery and resale assumptions
Read the exact vehicle warranty, mileage limit, capacity condition and exclusions. A warranty threshold is not a forecast of actual battery health. For a used vehicle, obtain an appropriate inspection and battery information rather than relying on a universal degradation percentage.
Use a conservative exit-value scenario, with PARF based on actual ARF and original COE cohort. Compare purchase price plus interest and running costs minus exit proceeds. The energy calculation becomes useful when it is connected to that complete budget.
Sources and review date
Reviewed on 13 September 2026. Historical results retain their exercise dates; worked budgets are assumptions, not quotations.