When we compare fuel and EV charging costs, it becomes evident that EV charging is significantly cheaper than refuelling. But if you’re still not convinced, let us help you understand better.
Let’s look at some calculations to illustrate the cost differences for various vehicle models for 250km distance travelled.
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Charging vs Fuel Cost for 250km travelled
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(9.85km/kWh)
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(26.3km/litre)
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(25km/litre)
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(24.3km/litre)
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(18.1km/litre)
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*95 Fuel Type @ $2.24 (With avg. 22% credit card discount)
**95 Fuel Type @ $2.35 (For PHV with avg 30% discount)
And there’s more. In addition to the lower cost of charging, EVs generally require less frequent repair and maintenance compared to traditional engine cars. Since EVs have fewer moving parts and do not rely on complex combustion engines, they often incur lower maintenance costs over time. Common maintenance items, such as oil changes, are eliminated entirely.
It is clear that switching to an electric vehicle can lead to significant long term cost-savings.
In reality:
EV charger providers must obtain an approval label issued by LTA before installation
Ensuring the safety of EV charging is essential, and in Singapore, all EV charging points must comply with Technical Reference 25 (TR 25). This standard establishes crucial safety and operational guidelines.
The Land Transport Authority (LTA) mandates that EV charger suppliers obtain a Approval Label before installation, confirming that their equipment meets TR 25 requirements, which are regularly updated.
Additionally, the standard requires charging points to undergo inspects at least three times a year, significantly reducing potential hazards to ensure a secure and reliable EV charging infrastructure.
In reality:
Casual drivers cover less than 50km daily, while PHV drivers travel around 100km during 10 to 12-hour shifts
One of the most common concerns surrounding electric vehicles (EVs) is their range and recharging frequency in comparison to fuel-powered cars. However, most modern EVs boast a range of over 400km, which is sufficient for many drivers’ needs — casual drivers covering less than 50km daily and PHV drivers who usually travel around 100km during a 10 to 12-hour shift.
While the focus often shifts to charging frequency, it’s important to consider the overall cost-effectiveness of driving an EV. The cost associated with EV is generally lower than fuel-powered cars, making them a more economical choice in the long run.
With these insights, you can feel more confident in the capabilities of electric vehicles and the cost advantages of EV charging. Get ready to explore the benefits of driving an EV! Check out our selection of EVs available and leasing details today!