He ditched his EV and returned to a hybrid after just six months

SINGAPORE – Francis Cheng thought he was doing the sensible thing when he bought an electric car in October 2024.

Like many Singapore motorists swept up by the electric vehicle (EV) wave, the retired sales manager was drawn by the promise of lower running costs, cleaner mobility and a glimpse into the future.

But after just six months with his electric hatchback from China, the veteran car owner who has been driving since December 1976 had seen enough.

“The maths just could not reconcile,” says the 70-year-old, who clocks barely 6,000km a year.

His car charging bill averaged around $50 a month – not unreasonable on its own – but the savings were quickly wiped out elsewhere.

The road tax for the Category A certificate of entitlement (COE) EV was almost $1,500 annually, nearly double what he was used to paying for a conventional petrol-electric hybrid. Insurance premiums were also doubled to $2,400.

“Repair costs are higher, parts are more expensive, there are fewer specialised workshops and insurers are still cautious because there is limited historical claims data,” he says.

Then came the charging experience.

Cheng lives in a Housing Board estate in Tampines, where the multi-storey carpark charger available to him is rated at 3.7kW. Most EV chargers in HDB estates are rated at 7.4kW.

“At that speed, you practically charge till the cows come home,” he quips.

He learnt that upgrading older HDB charging infrastructure is not always straightforward because the surrounding electrical grid and substations may also need enhancement.

For Cheng, his experience exposed the gap between EV ownership in theory and in practice.

“Home charging in landed property is ideal, especially if you use solar power,” he says. “But how many Singaporeans can afford condominiums, let alone landed homes?”

His disappointment was compounded when he tried to sell the six-month-old car in early 2025. Offers came in well below his expectations.

“EV technology changes very fast, like mobile phones,” he says. “People worry about depreciation, battery ageing and future resale value.”

Eventually, Cheng managed to sell the car because it had low mileage and was relatively new.

The experience pushed him back towards a technology he now believes is better suited for low-mileage motorists like himself: hybrids.

Before the EV, Cheng owned a Hyundai Kona hybrid. After his experiment with the EV, he bought a Lexus LBX hybrid in April 2025.

“Back then, it was the only Category A luxury car that felt value-for-money,” he says of the Lexus.

But Cheng’s car ownership journey did not stop there.

When COE prices shifted in 2025 – with Category A premiums rising and Category B becoming more attractive – he sold the Lexus after eight months and in December, switched to his current ride, a Category B COE 2-litre Toyota Corolla Cross, for more space and power.

The previous cars he owned included a Toyota Corolla Altis and Toyota Yaris.

Being retired shapes how he evaluates ownership costs. After his short-lived jaunt with EV ownership, Cheng believes EVs make less financial sense for low-mileage drivers.

People think EVs automatically save money, but that depends very much on the usage pattern, he says.

He also believes that many motorists are rediscovering hybrids for similar reasons.

Hybrid cars also have the benefits of full-electric driving at low speeds, but one still has the convenience and familiarity of a petrol car, he says. There is also no range anxiety, which is the fear of being stranded in an EV with a flat battery.

Singapore’s charging network has expanded rapidly, but Cheng believes infrastructure in older estates still lags behind the ambitions of EV adoption.

He also thinks the tapering down of government incentives for EVs will affect demand. From Jan 1, 2027, the maximum combined rebate for EVs will fall to $20,000.

“It makes little sense for the Government to keep subsidising EVs forever once they become mainstream,” he says.

Meanwhile, he expects electricity tariffs to remain high amid volatile global energy markets, further weakening the running-cost advantage EVs once enjoyed.

For motorists considering changing their cars, including getting new EVs, Cheng has a simple piece of advice.

“Hold on to what you already have if it is still running well,” he said. “When you buy another car, your depreciation journey starts all over again.”

These days, Cheng is content with his Toyota Corolla Cross. It may not be futuristic or laden with technology, but after his EV detour, he says the best car is simply the one that makes the most financial and practical sense.

What’s in the boot?