EV vs Petrol — 10-Year Total Cost

Over 10 years, usually yes — by roughly S$15,000–S$40,000 depending on annual mileage and charging habits. EVs in Singapore carry a S$20k–S$30k upfront premium (higher OMV + ARF before rebates), but recover it through much lower fuel-equivalent cost (charging at home ~S$6/100km vs petrol ~S$22/100km on 95) and lower servicing. Heavy mileage (25,000+ km/yr) moves the break-even point forward; very low mileage (<8,000 km/yr) can delay it beyond 10 years.

LTA's EV road tax is now based on motor power (kW), not engine capacity. A typical 110-kW EV (Cat A equivalent) pays around S$952/year. Higher-power EVs (180–230 kW, Cat B) pay ~S$1,156–S$1,400/year. The 2024 reform phased out the temporary additional usage surcharge, bringing EV road tax within ~15% of comparable petrol car road tax. Cat A petrol at 1.6L pays ~S$744/year.

Home charging at SP Group tariff (~S$0.30/kWh) costs about S$0.051/km for a 17 kWh/100km sedan — around S$765 for 15,000 km/year. Public DC fast charging at S$0.55/kWh (typical for SP Mobility / Shell Recharge) triples that to ~S$0.094/km or S$1,400/year. Most owners mix: 70% home + 30% public averages out to ~S$0.064/km.

Slower depreciation than a decade ago but still steeper than comparable petrol cars in the first 3 years — EV tech moves fast, so 3-year-old models look outdated. After year 5, depreciation converges. PARF rebate at year 10 is 50% of ARF for both (ARF is higher for EVs due to higher OMV, so PARF rebate is also higher in absolute dollars). Net: EV resale is competitive but you absorb more depreciation upfront.

Most EVs sold in Singapore (2021–2026) have 8-year or 160,000 km battery warranties. Out-of-warranty battery replacement runs S$15,000–S$30,000 depending on model, but real-world degradation on well-maintained Teslas / BYDs after 10 years is typically 10–15% — rarely bad enough to force replacement before the car is scrapped at year 10 or 20. Pricing-in a full battery swap is only relevant if you plan to run past PARF expiry.