Types of Electric Vehicles in Singapore: Which EV Should You Lease?

Singapore is rapidly transitioning to greener mobility, with more people and organisations shifting to electric vehicles (EVs). As the market diversifies, you need to weigh your priorities when considering the different types of EVs available.

From the electric range and fuel backup of a PHEV to the total zero-emission motoring that BEVs can offer, there are several features that can help you decide which vehicle can fit your lifestyle, budget, and sustainability goals.

1. Hybrid Electric Vehicles (HEV)

Hybrid electric vehicles are the most common entry point into electrified motoring. These vehicles utilise both a conventional petrol engine and an electric motor to power the wheels. 

Crucially, HEVs cannot be plugged into an external charger, and the battery is only charged internally either by the engine itself or through regenerative braking. Simply put, the electric motor primarily acts as an assist, enabling the vehicle to run on pure electricity for very short distances at low speeds, or assisting the petrol engine during acceleration. 

Consequently, this setup improves fuel efficiency, making the HEV an excellent choice for drivers seeking immediate fuel savings without changing their refuelling habits.

2. Plug-in Hybrid Electric Vehicles (PHEV)

PHEVs represent the next step in hybrid vehicle evolution. Like a standard hybrid, it features an electric motor while having an internal combustion engine (ICE). However, the core difference is the larger battery, which must be charged externally by plugging it into a charging station or home socket. This allows the PHEV to offer a usable short-range “electric-only” mode, typically around 40 to 60 km, before the ICE engages. 

At the same time, this dual system offers maximum range confidence, especially for trips to Malaysia, as the combustion engine completely eliminates range anxiety once the battery is depleted.

3. Battery Electric Vehicles (BEV) 

Leasing a BEV is the most straightforward way to achieve your sustainable driving goals. After all, these fully electric vehicles operate solely on electricity stored in a large battery pack, with no internal combustion engine. 

What’s more, they produce no tailpipe emissions and must be plugged in to recharge their power. This simplified mechanical design results in the lowest long-term operating costs and minimal maintenance requirements. 

While they require careful charging planning, the driving experience is characterised by instant torque and a silent ride. 

Is it Better to Lease or Buy an EV?

Given the rapid pace of innovation in the electric vehicle market, leasing a car rather than buying one is widely regarded as the financially safer and more flexible option. This is due to the following strategic advantages that mitigate the typical risks associated with early adoption:

1. Avoiding the Obsolescence and Depreciation Trap

EV car lease packages offer vital protection against a significant financial trap: accelerated depreciation. Unlike traditional petrol cars that follow a predictable depreciation curve, EVs, particularly early models or those with shorter range, can lose value much faster due to rapid advancements in battery technology, range, and charging speed. Unfortunately, the owner shoulders this risk entirely. 

However, leasing allows you to change to newer, more advanced models every two to three years, completely bypassing the steep depreciation and resale hassle that owners face when their vehicle becomes technologically outdated. Since you’re only paying for the usage period and not the risk of owning a quickly depreciating asset, you’re preserving your capital.

2. All-Inclusive Predictability and Freedom

Choosing a lease eliminates the high upfront costs (like large down payments and COE bidding) typically required to acquire an electric vehicle. Instead, you benefit from a fixed monthly rate that acts as an all-inclusive financial shield against unpredictable expenses. 

This payment covers major burdens of car ownership, including your comprehensive insurance, annual road tax for EVs, routine servicing, and 24/7 roadside assistance. Moreover, you no longer need to track renewal dates, book maintenance appointments, or pay unexpected repair bills. 

With a simplified financial structure, the total cost of your mobility is predictable and stress-free.

3. Supporting Corporate and Sustainable Goals

Corporate car leasing allows businesses to provide modern electric vehicles to staff. As a result, they can boost their environmental image and help them meet sustainability goals without tying up significant capital. 

Furthermore, the inherent cost structure of EVs directly translates into lower operational expenditure than running a traditional fleet of petrol cars. 

Bolt’s EV Fleet: Drive the Future Risk-Free

Transitioning to an electric vehicle is simple when you lease with a trusted provider who understands the technology and offers fleet diversity. At Bolt Car Leasing, you can experience cutting-edge technology without the commitment of ownership, ensuring you always drive a vehicle suited to your professional and family requirements. 

Our curated selection of BEVs and PHEVs gives you access to the latest models on the market, guaranteeing reliability and efficiency. Some of the EV options available include:

• Tesla Model Y (2025): The benchmark for electric driving, Tesla Model Y offers spacious SUV practicality, highly efficient electric vehicle performance, and seamless access to the exclusive Tesla Turbo charge network island-wide.
• BYD Sealion 7 Electric: This premium, new-generation BEV provides a luxurious, spacious cabin and a generous drive range (around 460 km). It also integrates the innovative Blade Battery with a Cell-to-Body (CTB) structure for exceptional safety and rigidity.
• BYD Seal Electric: This sleek, tech-rich sedan features the same safety-focused Blade Battery and CTB technology as the Sealion, ensuring reliability alongside a drive range of approximately 460 km.
• MG 4 EV: This is the perfect choice for those seeking the most affordable electric car mobility. It offers a smooth, silent, and zippy electric vehicle experience, ideal for city commuting, packed into a tech-rich interior.
• MG M9 EV (2024): A highly versatile electric MPV, the MG M9 EV is ideal for corporate clients needing zero-emission transport for larger groups or families who prioritise space and sustainability.

Which EV Model is Right for You?

Choosing the right electric vehicle depends entirely on balancing your driving needs with your priorities. For daily urban commuting and maximising savings, a compact car like the MG 4 EV may offer low running costs. 

On the other hand, if your priority is space, prestige, or maximising range confidence, a premium model like the Tesla Model Y may be a better fit.

Opt for an EV Car Lease for Maximum Savings

Ultimately, the choice between an electric vehicle and a petrol car is less about which is inherently “better” and more about which is smarter for your wallet. Whether you opt for an EV or a petrol car, leasing rather than buying allows you to enjoy stable monthly costs without the risk of significant depreciation. 

Ready to drive to the future? Contact Bolt Car Leasing today to find the perfect EV or petrol car lease, and let us tailor a short or long-term car rental package for you.