Electric Car Buying Guide: What You Need to Know

With growing concerns about climate change and rising fuel costs, EVs have become an increasingly attractive option for drivers in Singapore.

As the government actively promotes EV adoption with various incentives and the charging infrastructure expands, the time is ripe to make the switch to an electric car.

An electric car, or EV, is fundamentally different from your traditional petrol-guzzling car. Traditional vehicles with internal combustion engines (ICE) burn fuel to generate power.

Instead of an internal combustion engine that burns fuel, EVs run on electricity stored in a battery pack to drive an electric motor. The battery pack can be recharged by plugging into an external source. This eliminates the need for gasoline or diesel and significantly reduces tailpipe emissions.

Unlike ICE vehicles with complex mechanical systems, EVs have fewer moving parts, resulting in simpler operation and reduced maintenance requirements. While ICE vehicles rely on controlled explosions to generate power, EVs offer instant torque and smooth acceleration, providing a distinct driving experience.

Electric vehicles (EVs) operate through a system consisting of an electric motor and a battery pack. The battery pack stores electrical energy, which is then used to power the electric motor that drives the wheels.

When the accelerator is pressed, the battery supplies electricity to the motor, generating a rotating magnetic field that propels the vehicle.

EVs also utilise regenerative braking, where the motor reverses during braking to convert kinetic energy back into electrical energy, which is then used to recharge the battery. This process enhances efficiency and extends the vehicle's range.

You might have come across these acronyms when exploring electric cars: BEV, PHEV, and HEV. They represent different types of electric vehicles, each with its own characteristics:

• Battery Electric Vehicle (BEV): These are fully electric vehicles that run solely on battery power. They have no gasoline engine and produce zero tailpipe emissions, making them the most eco-friendly option. Popular BEVs in Singapore include the Tesla Model 3 and Hyundai Kona Electric.

• Plug-in Hybrid Electric Vehicle (PHEV): These vehicles combine an electric motor with a gasoline engine. They can be plugged in to charge the battery and driven on electric power for a limited range, typically around 40-80km. Once the battery is depleted, the gasoline engine takes over. An example of a PHEV available in Singapore is the BMW 330e.

• Hybrid Electric Vehicle (HEV): These are also known as "self-charging" hybrids. They combine a gasoline engine with a smaller electric motor and battery. Unlike PHEVs, they cannot be plugged in. The battery is charged through regenerative braking and the gasoline engine. HEVs offer improved fuel efficiency compared to traditional gasoline cars but have a limited electric-only range. 

Singapore's EV market is dominated by BEVs and PHEVs, with a growing number of models available from various manufacturers. The government's push for EV adoption, along with attractive incentives like rebates and tax benefits, is driving the popularity of these vehicles. 

When choosing between a BEV, PHEV, or HEV, consider your driving needs and lifestyle. If you primarily drive short distances within the city, a BEV might be the perfect choice. If you frequently travel longer distances or are concerned about range anxiety, a PHEV could offer a more practical solution.

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One of the key things to understand about EVs is charging and how it affects your driving range. Range simply means how far you can drive on a single charge. Think of it as the EV equivalent of how many kilometres you can get from a full tank of petrol.

Several other factors influence an EV's range, including battery capacity, driving style, terrain, and weather. Most new EVs in Singapore offer a range between 300 to 500 km on a full charge, which is more than enough for most daily commutes.

Charging types in Singapore:

• Home charging: The most convenient way to charge your EV is at home. You can install a Level 2 EV charger, which uses a 240-volt outlet, to charge your car overnight. This is similar to charging your phone, just on a larger scale.

• Public charging: Singapore has a rapidly expanding network of public charging stations located in carparks, shopping malls, and commercial buildings. These are typically Level 2 chargers, offering faster charging speeds than a standard household outlet.

• DC fast charging: For those who need a quick top-up, DC fast chargers can add significant range in a short amount of time. You can find these at selected locations across the island, and they are ideal for longer journeys.

Charging times vary depending on the EV model and the type of charger used. A Level 2 charger can typically fully charge an EV in six to eight hours, while a DC fast charger can get you up to 80% in under an hour for some models.

Understanding charging infrastructure and range is crucial when considering buying an electric car in Singapore. With a little planning, you can easily integrate EV charging into your daily routine.

The battery is the heart of an electric car, and understanding the basics can help you make informed decisions when buying one. Here are some EV battery terms to note:

• Capacity: This refers to how much electricity the battery can store. Think of it like the size of your fuel tank. A higher capacity means you can drive further on a single charge.

• kWh (Kilowatt-hour): This is the unit used to measure battery capacity. A larger kWh number means a bigger battery with more range.

• km/kWh (Kilometers per kilowatt-hour): This measures how far an EV can travel on one kilowatt-hour of electricity. It's a way to compare the efficiency of different EV models in Singapore. The higher the km/kWh, the more efficient the EV.

Most EVs use lithium-ion batteries, similar to those found in your laptop or smartphone, but on a much larger scale. These batteries are known for their high energy density, relatively long lifespan, and ability to recharge quickly.

EV batteries are designed to be durable, with most manufacturers offering warranties of eight years or more. While the cost of replacing an EV battery can be significant, advancements in battery technology are driving prices down.

Moreover, with proper care and maintenance, it's unlikely you'll need a replacement during the typical lifespan of a car.

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Switching to an electric car comes with a range of benefits, both for your wallet and the environment. Here are some key advantages of EV ownership in Singapore:

• Reduced emissions: EVs produce zero tailpipe emissions, contributing to cleaner air and a healthier environment in Singapore. This aligns with the nation's commitment to sustainability.

• Lower carbon footprint: By switching to an EV, you can significantly reduce your carbon footprint and contribute to Singapore's efforts to combat climate change.

• Fuel savings: Electricity is generally cheaper than petrol, so you'll save money on ‘refuelling’ your EV. This can add up to significant savings over time, especially with rising fuel costs.

• Lower road tax: Singapore offers significant road tax rebates for EVs, making them even more attractive financially.

• Tax incentives: The government provides tax benefits and rebates for EV buyers, reducing the upfront cost of purchasing an electric car.

• Reduced maintenance: EVs have fewer moving parts than traditional cars, leading to lower maintenance costs and less frequent servicing.

While the upfront cost of purchasing an EV can be higher than a comparable petrol car, the government incentives and long-term savings on fuel and maintenance can make the overall cost of ownership quite competitive.

Ready to take the plunge and buy an electric car? Before you do, here's a checklist of essential factors to consider:

• Your driving needs: How far do you typically drive each day? Consider your daily commute, weekend trips, and any longer journeys you might take. Choose an EV with a range that comfortably accommodates your driving habits.

• Charging accessibility: Evaluate your charging options. Do you have convenient access to charging stations at home, work, or frequently visited locations? Think about how charging will fit into your lifestyle.

• New vs. used EVs: Weigh the pros and cons of buying a new versus used EV. New EVs come with the latest technology and warranties, while used EVs offer potential cost savings. Factor in depreciation and battery warranty when considering a used EV.

• EV type: Decide which type of EV best suits your needs. A BEV offers zero emissions and maximum fuel savings, while a PHEV provides flexibility for longer trips. HEVs offer improved fuel efficiency but a limited electric-only range.

• Price of the electric car in Singapore: Research the prices of different EV models in Singapore and compare them to your budget. Remember to factor in potential rebates and incentives that can lower the overall cost.

• COE for electric cars Singapore: Factor in the Certificate of Entitlement (COE) costs when budgeting for your EV. COE prices can fluctuate, so stay updated on the latest trends.

• Road tax for EV Singapore: While EVs enjoy road tax rebates, it's still important to understand the road tax structure and how it applies to your chosen model.

• Car Insurance: Compare car insurance quotes from different providers to find comprehensive coverage at a competitive price for your chosen EV model. You can also explore SingSaver’s deals on car insurance for better prices.

By carefully considering these factors, you can make an informed decision and choose the EV that best fits your lifestyle and budget.

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Electric cars are becoming increasingly affordable, but it's important to understand the costs involved before making a purchase. Here's a breakdown of what you can expect:

• Purchase price: The upfront cost of an EV can be higher than a comparable petrol car. However, this is often offset by lower running costs and government incentives. Electric car prices in Singapore vary depending on the make and model, with options available for different budgets.

• Charging costs: While the EV charging price in Singapore is generally lower than petrol costs, it's essential to factor in the cost of electricity and the type of EV charging you utilise. This will help you better estimate recurring charging costs over time.

• Maintenance expenses: Electric cars generally have lower car maintenance costs compared to petrol cars due to fewer moving parts, less fluids to replace, and longer component lifespan. However, regular servicing and potential battery replacements should be considered.

Many banks and financial institutions offer financing options specifically designed for EVs, often with more attractive interest rates and terms compared to traditional car loans.

• EV Early Adoption Incentive (EEAI): From 1 Jan 2024 to 31 Dec 2025, newly registered fully-electric vehicles will receive up to 45% on the Additional Registration Fee (ARF), capped at S$15,000.

• Vehicular Emissions Scheme (VES) rebates: The Vehicular Emissions Scheme (VES) provides rebates of up to S$25,000 for electric cars in Singapore that fall under Band A1, while cars under Band A2 will receive up to A$5,000 in rebates.

• Road tax revision: The road tax structure for EVs in Singapore was revised in January 2022, making it even more affordable to own an electric car. The revised tax bands ensure that EVs and ICE cars of comparable makes and luxury levels pay similar road tax.

• PARF and COE rebates: When you deregister your electric vehicle, you'll receive the usual Preferential Additional Registration Fee (PARF) and COE rebates, just like with a petrol car.

When choosing an EV financing option, consider factors such as interest rates, loan tenure, and any associated fees. Compare offers from different lenders and choose the one that best suits your financial situation and repayment capabilities.

Not sure how much you’ll need to fork out in order to buy an EV? Read our guide on how to calculate your car loan payment in Singapore.

Switching from a gas-powered car to an EV can be a big change, but with some planning and preparation, the transition can be smooth and rewarding. For example, if you plan to charge your EV at home, installing a home charging unit with a Level 2 charger can help with faster charging. Do also familiarise yourself with your EV's range and the availability of charging stations in Singapore to plan longer trips accordingly.

While the upfront cost of an EV might be higher, with government incentives, you may enjoy long-term savings on fuel and maintenance. On top of that, you can enjoy the benefits of cleaner, more sustainable driving in Singapore.