Everything You Should know When Choosing An EV

With Singapore aiming to phase out new petrol and diesel car registrations by 2030 under its Green Plan, electric vehicles in Singapore are becoming a mainstream choice. Whether you’re considering EV leasing in Singapore for flexibility or planning to buy an EV in Singapore for long-term ownership, here are the essential factors to consider – presented in a Singapore-specific context

1. Driving Range

EVs in Singapore generally offer a real-world range of 300–500 km per full charge—enough for most local commutes. Models like the BYD Atto 3 yield around 420 km, while the Tesla Model Y can exceed 500 km.

• For local use, even shorter ranges are sufficient.
• For trips into Malaysia, plan charging stops carefully as infrastructure remains sparse beyond the border.

Tip: Seek independent range tests instead of only relying on manufacturer claims.

2. Charging Infrastructure & Compatibility

Charging time and compatibility are critical. Options include:

• AC Charging (7 – 22 kW): Common at HDBs and malls, needs 4–8 hours for a full charge.
• DC Fast Charging (50 – 120 kW): Tops up 20–80% in 30–60 minutes.
• Ultra-Fast Charging (up to 480 kW): Soon available via SP Mobility and Huawei pilot stations.

Not all EVs can utilise high-speed chargers – check your EV’s maximum supported kW.

LTA is rapidly expanding charging access, with over 15,300 points installed as of late 2024, and targets 60,000 by 2030.

3. Battery Technology & Warranty

The battery is the most expensive component—understanding its technology and coverage is vital:

• In Singapore, warranties vary: BYD offers 10 years or 200,000 km, while Volkswagen and others provide 8 years or 160,000 km coverage
• Popular chemistries include LFP (used in newer BYD EVs, safer and longer-lasting) and NMC (higher energy density, common in luxury EVs)

Leasing an EV in Singapore protects you from long-term battery wear, while buying requires choosing models with strong track records or generous warranties.

4. Technology Features

EVs tend to offer advanced onboard technologies not standard in ICE vehicles:

• Driver Aids: Lane-keeping, adaptive cruise, and collision avoidance.
• Parking Assistance: Auto-parking and 360° cameras – useful in tight Singapore carparks.
• Software Updates: Over-the-air enhancements from brands like Tesla and BYD.

Leasing EVs in Singapore may offer access to newer tech more often, whereas buying means your EV’s features are fixed at purchase.

5. Resale Value

Resale trends for EVs in Singapore are still emerging:

• ICE cars have predictable depreciation based on COE.
• EVs face greater uncertainty due to battery degradation and rapid technological advances.
• Buying an EV in Singapore means you may need to hold onto it for most of its 10-year COE lifespan to manage depreciation.
• EV leasing eliminates resale risk entirely, as you simply return the car at the end of your lease.

Conclusion

When choosing an EV in Singapore, whether leasing or buying, consider:

• Range for both local and cross-border use
• Charging options and compatibility
• Battery warranty and technology
• Technology features that add real utility
• Resale risk, especially if planning to sell within 3–5 years

EV leasing in Singapore offers flexibility and protection against battery or resale risk, while buying an EV in Singapore may be more cost-effective over a full COE cycle—provided you choose carefully.

Contact us today if you want to know more about leasing an EV car in Singapore and how we can help you find the right model for your needs.