Are Electric Cars Expensive? Debunking popular misconceptions on Electric Vehicles.
There’s been so much talk surrounding Electric Vehicles (EV) lately, especially in Singapore. And rightfully so, as the country plans to transition to clean energy by 2040. Without fueled-cars there’d be far less carbon emissions which is undoubtedly the right step towards reducing air pollution.
Oh, and did you know that the first ever EV passenger car in Singapore was launched in 2014?
Yup!
Curious about the upside of EVs and if all the hype surrounding them are well-justified? Let’s quickly explore a few facts on electric cars.
The Big Concern People Have Over EVs
Alright, so one of the most important questions surrounding EVs is the costing.
Of course, why wouldn’t it be, right?
Well, according to an article about overcoming misconceptions surrounding EVs, one of the main research findings regarding people’s biggest concerns about electric cars is…well, you guessed it, cost. Another two main concerns on EVs include charging anxiety and battery life.
But we’ll explore more on those later in this article.
First, let’s debunk a few common misunderstandings about whether or not EVs are more expensive than the regular fueled-car.
Electric Cars Saves Cost
Many people believe that EVs are more expensive in general. And they’re not entirely wrong.
Technically speaking, the actual cost of an electric car is slightly more costly than the average fueled-car. Perhaps 40%-50% higher.
However, in Singapore, there are actually huge incentives for electric car buyers. Including:
- Early EV Adoption Incentive (EEAI): SGD 20,000
- Vehicular Emissions Scheme (VES): SGD 25,000
- Lower road taxes
These incentives are meant to encourage more and more Singaporeans to adopt the cleaner energy lifestyle by purchasing EVs despite its higher initial cost.
Plus, that’s not all…
Rising Fuel Prices Are No Longer a Concern
EVs will save you more money in the long run! This is due to the fact that it no longer needs petrol to run.
In fact, a long time user of EVs in Singapore even noted that after his calculations of travel costs, using an EV retailed him about SGD 0.06 per kilometre, while fueled-cars would cost him around SGD 0.15 per kilometre.
That’s nearly double the amount!
You can probably attribute this to a nifty feature that an electric car has, where braking on an EV activates what is called regenerative braking which recharges the car.
Oh, and here’s another kicker:
Electric Car Maintenance May Be Cheaper Too
That’s right, the maintenance costs for EVs are low compared to fueled-cars. This is due to two main reasons:
- No oil
- No transmission fluids
Hence, these parts don’t need changing nor do they have to be maintained. Cool, right?
Well, let’s get into the other main factor that deter people from purchasing electric cars.
Range Anxiety Slows Down EV Adoption
Range anxiety is defined as “the fear of driving an electric vehicle and running out of power, without being able to find a charging station on time to replenish the battery.”
The question is, however, is range anxiety warranted?
Undoubtedly, having your car run out of juice with no way of recharging it is one of the biggest reasons for hesitation when it comes to EV adoption. Ultimately, the answer really depends on where you live, and how strong EV adoption is in that region.
According to this article, Singapore is facing double the amount of electric car owners in 2022 as compared to the previous year. In fact, the Housing and Development Board (HDB) plans to make Singapore “EV ready” by 2025 with the intention of having a minimum of three charging points in nearly 2,000 car parks.
So, in this case, there’s nothing to worry about when it comes to the charging anxiety you might have about your electric car. In fact, you’re well more likely to come across charging stations conveniently located along your journey.
Conclusion
So, there you have it. A quick rundown of popular misconceptions surrounding EVs. There are not as expensive as we seem to think, nor are charging stations so few and far between.
The question now lies in whether or not you’ll be joining the trend? Are there any other reasons unlisted here where you’d prefer fueled-cars instead?
There are undoubtedly more aspects on EV adoption worth pondering about, and perhaps we're just getting started.