In the Budget 2020 speech delivered by Deputy Prime Minister Heng Swee Keat, it was announced that Singapore intends to shift away from internal combustion engines and towards Electric Vehicles (EVs) in the next 20 years.
Many Singaporeans may be apprehensive about the benefits of switching to EVs and therefore worried to make the switch – but don’t fret just yet! Here are some reasons why the road to EVs could be a smooth and fruitful one for you.
Image Source: Diva K. Achmadi
Save More on Fuel and Road Taxes
For starters, electricity is much cheaper than petrol. Fuel costs for electricity is about SGD 0.23kWh under private rates, while petrol costs are on average SGD 2.09/L. Additionally, road taxes will be revised from 2021 to bring about annual savings of about SGD 2400.
Here’s a comparison of the cost of driving an EV versus a petrol car over a span of 10 years:
|40kW Nissan Leaf||1.6L Toyota Corolla Altis|
|Road Tax (from 2021)||SGD 4620||SGD 7440|
|Fuel Costs (based on 16,700km per annum)||SGD 6140||SGD 18 222 (after 20% discount)|
While initial costs of EVs are generally higher, the amount of savings that can be made on fuel and road taxes are by relatively larger margins. In line with the rebates that will be rolled out as part of the EV Early Adoption Incentive, along with the additional infrastructures that are being constructed for better accessibility of charging stations, it is perhaps worth making the switch early to make full use of these rebates!
High Efficiency, Low Maintenance
Another concern car owners may have is the performance of EVs compared to petrol cars. The most efficient combustion engines in petrol cars have about a fuel efficiency of 40 per cent, since most of the energy is lost in heat and friction. On the other hand, EVs have efficiencies of up to 80 per cent!
Power to Wheels for Petrol Cars versus EVs. Image Source: U.S. Department of Energy
What does this translate to?
It means that more fuel can be converted into movement of the wheels in an EV, with less fuel required to move the same amount of distance. So with every $100 spent on petrol, you are burning about $60 – instead with EVs, you get more bang for your buck!
Additionally, according to a study by 2 Degree Institute, EV owners enjoy average maintenance savings costs of at least 35 per cent. EVs have significantly lesser parts in their motors compared to the bulky combustion engines and require virtually little to no routine maintenance.
EV design optimisation for more interior space. Image Source: McKinsey & Company
I’m sure most car owners want ample space to fit their belongings, whether it’s their child’s stroller or a month’s supply of groceries (ahem). With EVs having increasingly optimised battery packaging, its motors are more compact, allowing car manufacturers to create a more spacious interior designed for more legroom and storage space.
Cleaner Air, Cleaner Singapore
Image Source: Matthew Newkirk
Most importantly, EVs are a more sustainable option for the future of Singapore. Air pollution and climate change are pressing concerns that we face – with lower carbon emissions produced on the roads, we can enjoy better air quality and do our part to be clean and green. After all, nothing amounts to the savings we can generate for our environment.
Want to explore options of EV vehicles available on the market? Visit ucars.sg, Singapore’s fastest growing online marketplace for Ü!