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There has been a general narrative about electric cars being a cheaper option than petrol cars. We break down the costs of both options.

Jae Chia  |  SG
Published 2021-03-11 12:41:57
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As part of the inter-ministerial Singapore Green Plan 2030 announced on February 10, the government said that it would “make it easier to buy and own” electric vehicles (EVs).

It also highlighted its plans to expand the EV charging infrastructure to 60,000 by the end of 2030. This is double the original target of 28,000.

In addition, Deputy Prime Minister Heng Swee Keat also announced during his Budget 2021 speech that S$30 million will be set aside over the next five years for EV-related initiatives.

It is evident that the Singapore government is heavily promoting the uptake of EVs to meet its target of completely phasing out traditional petrol cars by 2040.

There is already a general narrative that EVs are cheaper than petrol vehicles, but how true is this?

 
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