EV vs Petrol — 10-Year Total Cost
Full running-cost breakdown: purchase + COE + 2026 EV road tax + charging vs petrol + insurance + servicing, with PARF rebate at year 10.
Indicative 2026 SG figures. Last verified 2026-04-24. Purchase prices assume mid-range family sedan with typical COE premium.
10-year savings if you choose EV
S$2,680
EV does not pay back its upfront premium within 10 years.
EV total 10-yr
S$216,810
Net after PARF: S$196,810
ICE total 10-yr
S$212,990
Net after PARF: S$199,490
EV annual running
S$4,681
ICE annual running
S$6,799
Cumulative running cost
Disclaimer
This calculator provides estimates and should not be viewed as a prediction. Actual loan instalments, COE prices, depreciation, and total ownership costs may vary due to changing interest rates, market conditions, and individual circumstances. It is not intended to be your sole source of financial guidance.
Rates last verified: 4 Apr 2026.
Verify with OneMotoring (https://onemotoring.lta.gov.sg). Full disclaimer at smartcalculator.sg/disclaimer.
What's priced in
- • Upfront purchase (OMV + ARF + COE, indicative 2026 prices for mid-range sedan)
- • Road tax — 2024-reformed EV schedule (kW-based) vs petrol (cc-based)
- • Fuel / charging — electricity blended home vs public, petrol 95 or 98
- • Insurance — EV ~25% higher premium reflecting battery-replacement risk pricing
- • Servicing — EV ~S$500/yr, petrol ~S$1,000/yr (fewer moving parts, no oil changes)
- • PARF rebate at year 10 — 50% of ARF paid
Not modelled: battery replacement (not economic before PARF), depreciation curve (PARF rebate is the 10-year proxy), tyre wear difference (EVs ~15% higher), ERP spend, parking, hail-damage repair cost differences.
Who This Calculator Is For
Buyers Comparing EV vs Petrol Car
10-year total cost of ownership comparison.
- Upfront premium: EVs typically cost 30–60% more than equivalent petrol cars
- Running cost: Lower electricity cost vs petrol
- VES rebate: Up to $25,000 for qualifying EVs
- Battery: Replacement not typically needed within 10 years
Buyers Considering Charging Infrastructure
Assessing charging convenience vs petrol refuelling.
- Home charging: $0.30–$0.38/kWh (SP Group off-peak)
- DC fast charging: $0.60–$0.80/kWh
- EV consumption: Average 15–20 kWh/100km
- Access: Many condos and HDB carparks now have charging points
Environmentally Conscious Buyers
Understanding Singapore's EV sustainability context.
- Grid mix: Singapore still partly fossil fuel (natural gas dominant)
- Net zero target: 2050 for Singapore's electricity grid
- Well-to-wheel: EV emissions still lower than petrol in Singapore
- Green Plan 2030: All new cars petrol-free by 2030
Fleet and Corporate Buyers
Fleet electrification cost analysis.
- Maintenance: Lower cost (no oil changes, fewer moving parts)
- Infrastructure: Charging capital cost significant
- IRAS: EV charging equipment qualifies for capital allowance
- Loan rules: Same 60%/70% LTV rules apply to corporate EVs
EV vs ICE (Petrol): 10-Year Total Cost of Ownership
| Cost Component | Electric Vehicle | Petrol ICE Vehicle |
|---|---|---|
| Purchase price premium | +30–60% higher | Baseline |
| VES rebate | Up to $25,000 | Not applicable |
| Fuel cost (10 years) | ~$8,000–$12,000 | ~$25,000–$40,000 |
| Maintenance (10 years) | ~$5,000–$8,000 | ~$10,000–$18,000 |
| Road tax | Based on kW (often lower) | Based on engine cc |
| Resale uncertainty | Higher (new tech) | More predictable |
Frequently asked
Is an EV actually cheaper than a petrol car in Singapore?expand_more
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.
What is the EV road tax in Singapore 2026?expand_more
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.
How much does it cost to charge an EV in Singapore?expand_more
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.
Do EVs hold their value in Singapore?expand_more
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.
What about battery replacement cost?expand_more
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.
Sources
- LTA OneMotoring — Road tax for electric vehicles
- SP Group — Electricity tariff
- MTI — Singapore petrol pump prices