Personal Finance
Average Cost of Electric Vehicles in Singapore
By ValueChampion  •  May 31, 2022
Contributed by Ong Zi Jian Ever since Tesla started selling its electric cars in Singapore, there has seemed to be a rise in interest in electric vehicles (EVs). As observed from the chart below, electric car ownership has seen a steady increase since 2016. When we look at the electric car population in Singapore, we see that for the year 2021, the number of electric cars in Singapore increased by more than double since 2020. End of Period (Year)Electric Cars
20112201232013-20141201512016122017314201856020191,12020201,21720212,942 Source: Motor Vehicle Population by Fuel Type There are benefits to using an electric vehicle (EV). The running cost can be lower as fully charging an electric car is cheaper than fully filling the tank of a petrol car. There is also less maintenance cost as electric vehicles have lesser parts to be replaced. Petrol cars need to have...
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By ValueChampion
We distill sprawling marketplaces—for insurance, credit cards, bank accounts, and more—down to choices that represent a sweet spot for value—as in offering the features, returns, or experience we think you need for the smallest outlay. We ask: Is the return on a particular purchase or decision worth the cost or risk of that option, and how does the choice stack up against other options?
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