MG4 Urban EV cost to own in Singapore — the true 5-year total
As of August 6, 2026, the MG4 Urban EV costs S$191,888 on the road (price with COE). Over 5 years, owning one (EV) costs about S$136,722 in Singapore — S$2,279/month, S$1.56/km — where COE and ARF, not electricity, dominate. That's S$12,377 less than a comparable Toyota Corolla Altis Hybrid over the same 5 years.
COE is set by a biweekly auction and swings thousands of dollars — every figure here uses the S$124,790 (Cat A) / S$126,236 (Cat B) COE assumption. Confirm the current COE before you commit; it is the single biggest line in the price. Source: LTA registration-cost sheet, 2026-08-06.
EV Early Adoption Incentive: the EEAI (45% off ARF, capped S$7,500) is baked into the EV figures for 2026 registrations — and it sunsets 31 Dec 2026. Register a BEV from 2027 and it costs more. Source: LTA.
MG4 Urban EV · Singapore · 5-year estimateS$136,722 total · S$2,279/mo · S$1.56/km
Where the money really goes — COE + ARF dwarf the fuel
The registered price with COE for the MG4 Urban EV is S$191,888. COE + ARF alone are S$124,790 of that — many multiples of the electricity or petrol you'll ever buy. That is the honest story of Singapore car cost.
- COE (quota licence)
- S$124,790biweekly auction · dominates the price
- ARF (net of VES / EEAI)
- S$0gross S$19,263 − VES rebate S$22,500 − EEAI S$7,500
- OMV (open-market value)
- S$19,263declared import value
- Excise (20%) + GST (9%)
- S$5,933on OMV
- Registration fee
- S$350LTA flat
- Dealer margin
- S$41,552backed out of the retail price
- Registered price (with COE)
- S$191,888what you pay to put it on the road
- Recovered at de-registration (yr 5)
- S$96,388unused COE S$62,395 + PARF S$0 + residual value S$33,993
How depreciation works here: it is the registered "price with COE" minus what you get back at de-registration — the unused COE (rebatable over the 10-year licence), the PARF rebate (a capped % of ARF paid), and the car's remaining market value. Where a published Singapore depreciation figure exists (PaperValue / sgCarMart), we use it — the straight-line S$/yr buyers actually quote. That is why the S$100k+ upfront, not electricity or petrol, dominates the 5-year total. What you'd get back at deregistration (official PARF + COE rebate) →
Where the money goes — full 5-year breakdown
| Cost component | Electric · MG4 Urban EV | Hybrid · Toyota Corolla Altis Hybrid |
|---|---|---|
| Depreciation (estimated) | S$95,500 (70%) | S$102,000 (68%) |
| Charging / fuel | S$5,241 (4%) | S$13,167 (9%) |
| ↳ of which charging loss | 10% (~S$524) | — |
| Maintenance | S$3,500 (3%) | S$4,813 (3%) |
| Insurance | S$10,000 (7%) | S$8,500 (6%) |
| Financing interest | S$15,003 (11%) | S$15,744 (11%) |
| Registration & fees | S$7,478 (5%) | S$4,876 (3%) |
| Total cost of ownership | S$136,722 | S$149,099 |
The Depreciation line above is where COE + ARF live — Singapore's honest cost centre. The Charging / fuel line is small by comparison.
MG4 Urban EV specs & assumptions
- Price with COE
- S$191,888dealer
- OMV
- S$19,263declared import value
- Powertrain
- Electric
- Efficiency
- 15.5 kWh/100kmWLTP
- COE category
- Cat A · assumed S$124,790LTA
- Singapore electricity
- 34.78c/kWhSP Group
- Annual km (assumed)
- 17,500LTA average
Cost to charge the MG4 Urban EV at home
The MG4 Urban EV runs about S$5.99 per 100 km at home — versus about S$23.94 for a typical 7 L/100km petrol car. Home charging only (the ~10% AC charging loss is included); public DC fast-charging is billed per session by each network — often 2–3× the home rate — and isn't in these figures.
- Per 100 km at home
- S$5.9915.5 kWh/100km + 10% charging loss × S$0.35/kWh
- A typical 7 L/100km petrol car
- S$23.94/100kmat S$3.42/L — for comparison
What the numbers say
- Not close in Singapore: the MG4 Urban EV costs S$12,377 less than the Toyota Corolla Altis Hybrid over 5 years — about 8% of the Toyota Corolla Altis Hybrid's total, and almost all of that decided upfront by COE, ARF and VES rather than by what it drinks.
What the Singapore stack does to the MG4 Urban EV specifically
The MG4 Urban EV declares an OMV of S$19,263 — the import value every Singapore tax on it is computed from. That produces S$19,263 of gross ARF before any adjustment. Its VES band A takes S$22,500 back off that ARF (≤90 g/km CO2 (efficient BEVs, via 0.4 g CO2/Wh factor) → S$22,500 rebate), and the 2026-only EEAI a further S$7,500. It registers in COE category A, so this page prices it at the S$124,790 Cat A assumption — 65% of its S$191,888 registered price on its own, and COE plus ARF together are 65% of it. For scale, the COE alone is about 24× everything the MG4 Urban EV will spend on electricity in 5 years (S$5,241).
The Singapore market quotes depreciation on this car at S$19,100/yr (PaperValue 2026-reg (~S$19,100/yr), updated 2026-07-03) — that published figure, not a residual curve of ours, is what drives the 5-year total above. Road tax on the MG4 Urban EV is assessed on motor power — 99 kW, plus the flat S$700/yr Additional Flat Component every EV pays in lieu of fuel duty.