Electric vehicles have a higher sticker price than comparable petrol cars, but lower running costs can close the gap over a 10-year COE cycle. The VES rebate (up to S$25,000), cheaper electricity vs petrol, lower road tax, and reduced maintenance all work in the EV's favour year after year.

In Singapore's context, the cost comparison is unique. Both EVs and petrol cars require a COE, and the ARF is based on OMV regardless of drivetrain. The main running cost difference comes from energy: charging an EV costs roughly a third of fuelling an equivalent petrol car. Maintenance savings add another 20-30% reduction since EVs have no engine oil changes, fewer brake pad replacements, and simpler drivetrains.

This calculator puts real numbers against both options so you can see exactly where the break-even point falls for your driving habits. For the complete ownership cost of either option, use the total cost of ownership calculator. To understand how COE categories apply to EVs, see our guide to COE.