16 Jul Electric vs Petrol Car in SG: 5-Year Cost Comparison
Most cost comparisons between electric and petrol cars in Singapore stop at the sticker price. That’s the part that favours petrol. Everything that comes after is where the arithmetic starts moving the other way.
The more useful question isn’t what the car costs on signing day. It’s what it costs to own across five years of commutes, school runs, and weekend drives. In Singapore’s cost structure, that question tends to resolve in the EV’s favour by a considerable margin.
Why Singapore Changes the EV Cost Equation
Singapore’s Vehicle Emission Scheme (VES) bands every new car by CO2 emissions. Models in the cleanest band, A, qualify for a rebate of up to $22,500 off the Additional Registration Fee. When combined with the EV Early Adoption Incentive (EEAI), eligible EVs registered in 2026 can receive up to $30,000 in ARF relief. All GAC AION models sit at VES A.
COE applies equally to both, so it doesn’t affect the comparison. After rebates, the upfront gap between a comparable EV and petrol sedan is narrower in Singapore than in other markets, before a single kilometre is driven.
The Three Numbers That Decide the 5-Year Cost
Three categories account for most of the difference. Run the numbers on each and the five-year picture becomes hard to argue with.
1. Fuel Versus Electricity
A typical Singapore driver covers around 18,000km a year. At today’s 95-octane pump price of approximately $3.37 per litre, a petrol car averaging 12 litres per 100km costs around $7,300 in fuel annually. The Aion Y Plus, rated at approximately 16.6kWh per 100km, costs around $1,040 a year at the current SP Group household tariff of 34.78 cents per kWh (Q3 2026, inclusive of GST). The Aion V comes in at a similar figure. Against the petrol equivalent, that’s a saving of roughly $6,300 a year, or around $31,000 over five years.
2. Servicing
A petrol car needs oil changes, spark plug replacements, air filter replacements, and belt checks throughout the year. Budget $800 to $1,200 annually for a typical model. Every GAC model comes with 10 years or 200,000km of free servicing, so the servicing line over the same five years is $0. Against a petrol equivalent, that’s a saving of $4,000 to $6,000. For a closer look at what EV battery maintenance actually involves, our guide to EV battery life and maintenance covers the essentials.
3. Road Tax
Petrol road tax is calculated on engine displacement. EV road tax is based on power output and is substantially lower for most Category A models. LTA’s road tax calculator lets you run the comparison for your specific shortlist.
When Does the EV Start Saving You Money?
Cumulative savings typically offset any remaining upfront price difference within two to three years for a driver covering around 18,000km a year.
One more consideration. Singapore’s 2040 ICE phase-out means a petrol car bought today will face a tighter resale market in the second half of its COE lifespan. That depreciation risk doesn’t appear in a fuel calculator, but it’s real.
Make the Switch with GAC by Key Motor
Our GAC AION electric cars come with VES A across all models and include 10 years or 200,000km of free servicing. Two of the biggest cost variables in the comparison above are already resolved before you drive off.
The Aion Y Plus and Aion V suit families looking for everyday practicality and the clearest five-year savings case. For buyers who want more, the Hyptec HT offers 800V fast charging and a luxury cabin without stepping outside the VES A band. And for households that aren’t ready to go fully electric, the Aion E9 plug-in hybrid offers seven-seat luxury with a combined range of 1,032km.
Walk into our Toa Payoh showroom any day of the week, or drop us a message on WhatsApp or via our contact page to book a test drive.