Tesla Ownership Cost and Comparison in Singapore
Edit: Mistakes in running costs, please look at excel sheet below. Fuel/Charging cost was missed out
https://ts.la/darcy24897
I've broken down the cost of owning a Tesla in Singapore. Hope this helps anyone looking to make a purchase. From a cost only perspective, owning an EV in singapore may not be worth the switch immediately even though it is better and more sustainable as a technology. Regulations, policies & infrastructure are lagging behind.
This is largely due to an unnecessary Additional Flat Component Tax levered on EVs. By applying the AFC, daily cost savings from charging is taken away. On top of this, there are 2 clean vehicle initiatives at the moment which subsidizes up to 45k of ARF. However, these rebates do not necessarily gets passed on to the buyer.
Yes, we are aiming to be a car lite city, but consider this, EVs are not adding to the vehicle population. It is replacing current vehicles for cleaner and more sustainable alternatives.
**Corrections:
Insurance: I have missed this out. SR+ under allianz i'm paying ~$1500++ with NCD. This covers FSD/Autopilot [please check, everyone's quote may be different]
Costs: My formula did not include fuel/charging cost into annual costs!!!!
https://docs.google.com/spreadsheets/...
00:21 Cost of a Tesla in Singapore
00:50 Understanding additional registration fee / on market valuation
01:50 Running cost of a Tesla
04:30 Comparing the cost to Mercedes A180
06:40 Comparing the cost to Toyota Camry Hybrid
07:30 Conclusion of the cost comparison
07:50 Discussing why buying a Tesla ends up costing more?
08:20 A better way to incentivize EV ownership
09:30 Changing the way we calculate road tax in Singapore
11:00 Carrot & stick approach towards EVs
I do short formats on Twitter:
/ darcyds
Tesla owners sg:
/ teslaownerssg