The Government’s EV Vision

Singapore’s goal to achieve net-zero emissions by 2050 involves several key initiatives, with electrification of vehicles being a major pillar. 

According to the LTA, if all light vehicles switched to EVs, it would reduce the country’s carbon emissions by up to 2 million tonnes. This transition is expected to be a crucial step toward achieving the nation’s long-term sustainability goals.


Source: LTA Website

To make the transition easier for consumers, the government has set a target of installing 60,000 EV charging points by 2030. This includes 40,000 public chargers and 20,000 in private premises, ensuring that every Housing Development Board (HDB) town will be EV-ready by 2025.

Despite these ambitious plans, many Singaporeans remain cautious about fully embracing EVs. Let’s take a look at some of the reasons why.

High Costs of Owning an EV

One of the primary reasons why many Singaporeans are hesitant to switch to EVs is the high cost of ownership. 

Although the government offers EV rebates and incentives, owning a car in Singapore is already incredibly expensive due to the Certificate of Entitlement (COE) system. A COE can cost up to SGD 100,000, and that’s just for the right to own a car, not including the price of the vehicle itself, taxes, and duties.

For many potential buyers, the long-term savings from owning an EV, such as reduced fuel costs and lower maintenance fees, are outweighed by the upfront costs. 

Limited Charging Infrastructure

Although Singapore has made strides in building a robust EV charging network, the current infrastructure is still considered inadequate by some. 

While the LTA has announced plans to install fast chargers in various locations, including HDB car parks and industrial zones, many EV owners still find it challenging to access convenient charging stations.

For those living in high-rise HDB flats—where around 80% of Singapore’s population resides—the lack of personal parking spaces makes home charging impossible. 

Instead, EV owners have to rely on public chargers, which may not always be available when needed. This inconvenience is one of the key reasons why some car owners are still avoiding EVs.

Concerns Over EV Battery Life and Resale Value

Another factor that contributes to the reluctance of Singaporeans to adopt EVs is concern over battery life and the car’s resale value. 

EV batteries typically degrade over time, and replacing them can be costly. This impacts the resale value of EVs, which, in turn, makes potential buyers think twice before committing.

Additionally, higher road tax rates and insurance premiums for EVs further deter potential owners. Drivers who adopted an EV years ago, have expressed concerns over these additional costs, even though the savings on fuel are considerable.

Charging Time and Costs

While advancements in technology have made fast chargers available, the current options still require a substantial amount of time to fully charge a vehicle. 

Standard chargers can take up to six to eight hours, while fast chargers need about an hour. Although the LTA has partnered with Huawei to install ultrafast 480kW chargers that can charge a vehicle in 30 minutes, these chargers are not widely available yet.

Furthermore, the cost of charging an EV is expected to rise due to changes in licensing and registration requirements for commercial charging service providers. This price increase could make it less appealing for potential EV owners, especially those already burdened by the high costs of car ownership in Singapore.

The Push Toward Public Transport

While the government is encouraging the adoption of EVs, it has also made clear that the most sustainable form of transport is public transport. 

Singapore aims to have 75% of peak-time commutes take place on mass public transport by 2030. At the same time, half of Singapore’s bus fleet is expected to be electrified. This focus on public transport may lead some Singaporeans to question whether switching to an EV is the best choice, especially given the cost considerations.

Conclusion

While the Singapore government has laid out a comprehensive roadmap to support EV adoption, high costs, limited charging infrastructure, and concerns about resale value and battery life are keeping many drivers from making the switch. For EV adoption to become mainstream, these obstacles need to be addressed, and more incentives may be required to convince drivers that the transition is both cost-effective and convenient.

As Singapore continues its push toward a greener future, it remains to be seen how quickly EVs will take hold. For now, many Singaporeans are still watching from the sidelines, waiting for a time when sustainability doesn’t come with such a high price tag.