We compared the costs between an ICE car and its electric variant — here are our findings
Comparison between an ICE car and its electric variant.
PHOTO: sgCarMart
PUBLISHED ONApril 27, 2022 9:20 AMByRussell Oon
The demand for Electric Vehicles (EVs) has spiked in the past year, with more automotive manufacturers producing electric variants of ICE cars to encourage consumers to adopt EVs.
Before you decide on which variant to purchase, read on to find out about the benefits of each variant!
For the ease of calculation, we will make several assumptions:
- Petrol: 95 Grade at $2.60/L
- Approximate charging cost: $0.50/kWh (DC charging)
- Average mileage: 17,500 km/year
- Ownership period of a car is 10 years
Comparison 1: Mini Cooper S 5-Door vs Mini Electric
By purchasing the Mini Cooper S 5-Door, your monetary savings will be minimal, as opposed to opting for the Mini Electric due to its cheaper cost price of $32,000 and fuel savings of $1,750 per year.
However, purchasing the Mini Cooper S 5-Door compensates with more than ample time savings during your refuelling sessions over the years!
| Breakdown | Mini Cooper S 5-Door | Mini Electric |
| Price | $218,888 Inclusive of EEAI: NA VES: $15,000 ARF: $42,022 |
$186,888 Inclusive of EEAI: $20,000 (Rebate) VES: $25,000 (Rebate) ARF: 1,862 Save $32,000 |
| Annual Road Tax | $1,210 Save $197 |
$1,407 |
| Range | 608km | 232km |
| Fuel/Battery Capacity | 40L | 32.64kWh |
| Fuel Consumption | 15.2km/L | 6.6km/kWh |
| Estimated Refuel/Recharge Duration | 10 minutes | 30 minutes |
| Cost of Fuel per km travelled | $0.18 | $0.075 |
| Estimated Annual Fuel Costs | $3,150 |
$1,400 Save $1,750 |
| Estimated Number of Refuels Annually | 29 | 76 |
| Estimated Time spent refuelling | 4 hours 50 minutes Save 33 hours 10 minutes |
38 hours |
| Maintenance Cost | Varies | Varies |
Comparison 2: BMW X3 vs BMW IX3
Like the Mini comparison above, if you purchase the BMW X3, your monetary savings will be minimal compared to purchasing the BMW iX3.
With both BMW SUVs being desirable family cars, purchasing the BMW X3 saves you a significant amount of time that you can spend at home with your children.
Then again, purchasing the BMW iX3 provides you with more opportunities to head out and spend some quality family time while you charge your car!
| Breakdown | BMW X3 | BMW iX3 |
| Price | $310,888 Inclusive of EEAI: NA VES: $15,000 ARF: $75,106 |
$281,888 Inclusive of EEAI: $20,000 (Rebate) VES: $25,000 (Rebate) ARF: $34,672 Save $29,000 |
| Annual Road Tax | $1,210 Save $637 |
$1,847 |
| Range | 930km | 460km |
| Fuel/Battery Capacity | 65L | 80kWh |
| Fuel Consumption | 14.3km/L | 5.2km/kWh |
| Estimated Refuel/Recharge Duration | 10 minutes | 60 minutes |
| Cost of Fuel per km travelled | $0.18 | $0.10 |
| Estimated Annual Fuel Costs | $3,150 |
$1,750 Save $1,400 |
| Estimated Number of Refuels Annually | 19 | 39 |
| Estimated Time spent refuelling | 3 hours 10 minutes Save 35 hours 50 minutes |
39 hours |
| Maintenance Cost | Varies | Varies |
Comparison 3: Hyundai Kona Hybrid vs Hyundai Kona Electric & Comparison 4: Hyundai Ioniq Hybrid vs Hyundai Ioniq Electric
When it comes to hybrid variants, they are unexpectedly the most bang for your buck and save you the most time when it comes to refuelling.
Since there aren't a lot of ICE cars with electric variants, we're adding the Kona and Ioniq as bonus content for this article.
The Ioniq hybrid was first introduced in 2017, while its electric counterpart was later introduced in 2019. Meanwhile, it is the opposite for the Hyundai Kona — with the electric variant launching first in 2019 and its hybrid counterpart launching later in 2020.
Undeniably in recent years, you can simply tell that Hyundai is doing something right, judging by the sheer number of them on the road. Hyundai has been producing not only good-looking cars but practical ones as well.
Not only do both the Hyundai Kona Hybrid and Ioniq Hybrid cost significantly less than their electric counterparts by up to $38,000 to $41,000, but they also save you a considerable amount of time of up to 45 hours when it comes to refuelling.
Unfortunately, the electric variant of the Hyundai Kona and Ioniq provide owners with an inconsiderable fuel savings of $525 to $700 a year.
The hybrid versions are undoubtedly a better choice that provides you with the best of both worlds.
| Breakdown | Hyundai Kona Hybrid | Hyundai Kona Electric |
| Price | $128,999 Inclusive of EEAI: NA VES: $15,000 (Rebate) ARF: $14,180 Save $37,889 |
$166,888 Inclusive of EEAI: $19,351 (Rebate) VES: $25,000 (Rebate) ARF: $0 |
| Annual Road Tax | $806 Save $396 |
$1,202 |
| Range | 886km | 305km |
| Fuel/Battery Capacity | 38L | 39.2kWh |
| Fuel Consumption | 23.3km/L | 7.7km/kWh |
| Estimated Refuel/Recharge Duration | 10 minutes | 50 minutes |
| Cost of Fuel per km travelled | $0.10 | $0.07 |
| Estimated Annual Fuel Costs | $1,750 |
$1,225 Save $525 |
| Estimated Number of Refuels Annually | 20 | 58 |
| Estimated Time spent refuelling | 3 hours 20 minutes Save 45 hours |
48 hours 20 minutes |
| Maintenance Cost | Varies | Varies |
| Breakdown | Hyundai Ioniq Hybrid | Hyundai Ioniq Electric |
| Price | $123,999 Inclusive of EEAI: NA VES: $15,000 (Rebate) ARF: $12,414 Save $40,889 |
$164,888 Inclusive of EEAI: $19,636 (Rebate) VES: $25,000 (Rebate) ARF: 1,862 |
| Annual Road Tax | $806 | $1,202 |
| Range | 1184km | 311km |
| Fuel/Battery Capacity | 45L | 38.3kWh |
| Fuel Consumption | 26.3km/L | 8.5km/kWh |
| Estimated Refuel/Recharge Duration | 10 minutes | 30 minutes |
| Cost of Fuel per km travelled | $0.10 | $0.06 |
| Estimated Annual Fuel Costs | $1,750 |
$1,050 Save $700 |
| Estimated Number of Refuels Annually | 15 | 57 |
| Estimated Time spent refuelling | 2 hours 30 minutes Save 26 hours |
28 hours 30 minutes |
| Maintenance Cost | Varies | Varies |
Now that you are armed with the relevant knowledge and benefits that each car type provides, the next thing for you is to figure out the type of savings you prioritise — monetary or time savings?
*All prices are accurate as of January 2022
ALSO READ: The best executive EVs in Singapore
This article was first published in sgCarMart.