Why EVs are taking over Singapore

Why EVs are taking over Singapore

You may have noticed the rapid increase in electric vehicles on the roads over the years. More new, flashy signs pointing to EV chargers at various parking lots can also be found.

We’ve been talking about how EVs are all the rage these days! According to the Land Transport Authority (LTA), there were 1,297 EVs at the end of 2020, and the figure rapidly rose to 3,713 units by the end of 2021.1

Although the number of EVs is still a tiny percentage out of all existing vehicles in Singapore, we can anticipate a huge change in a few years thanks to the EV campaigns and incentives rolled out by the government.

Commercial EVs

Switching to commercial EVs may not seem convenient at first glance. However, it can be cost effective, reliable, and conserving in the long run! Let’s take a look at the costs of fuel and electric charging:

Cost of charging and fuel

Due to the surge in fuel prices,2 some may be concerned about the steep costs of owning a vehicle down the road.

Here’s a comparison between the estimated cost of electric charging and fuel:

EV Diesel Petrol
Fuel Price $0.55/KwH $3.17/L $3.40/L
Fuel Cost Per 100km (SGD) $10.29 $25 $27

*EV charging costs are based on Shell recharge prices, and serves as a reference only.

Chargers are widely accessible

When it comes to the concept of EVs, many would raise concerns about the accessibility of charging.

In Singapore, there are 2,500 charging points in April 2022, with more on the way.

The government even doubled the number of charging stations planned to be installed in Singapore by 2030 – from 28,000 to 60,000.3 These are some apps you can download to charge your EVs – My Transport, Plugshare, Cdg Engie, Juice+, Charge+, SP Mobility, and more.

The temperature in Singapore is optimal for EVs

The ideal temperature for lithium ion batteries would be between 15°C to 35°C 4, making EVs perfect for countries with generally warm temperatures, such as Singapore.

As cold temperatures affect the range of EVs and their regenerative braking, owning an EV in Singapore is viable.

Thoughts

With the massive government efforts to push the use of EVs, we think that it’s a great time to utilise the incentives and benefits that come with purchasing an EV. The readily available charging stations planted almost everywhere in Singapore definitely is a plus point to owning an EV.

Needless to mention, it is a fundamental step closer to a more sustainable and clean environment.

Have a question? Reach out to us at: marketing@absgroup.sg | 6933 9417 | 8289 9719

 

1 The Straits Times, Kok Yufeng and Lee Nian Tjoe, 17 Jan 2022

2 Motorist, Fuel prices trend

3 The Straits Times, Kok Yufeng and Lee Nian Tjoe, 17 Jan 2022

4 ResearchGate, Optimal Operating Temperature of Lithium Ion Battery

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