$16K for a car battery? Only if you drive an EV …
Here’s a shocker you need to know: Replacing the battery in an electric vehicle can set you back up to $50,000. For those of you keeping track at home, that’s more than a brand-new Tesla Model 3. I’m not beating up Tesla. All EV carmakers hope you don’t figure this out.
OK, how long do EV batteries last?
Hmm, 10 years? 20? Nope. According to a Daily Mail investigation, the average EV battery lasts about eight years — and after that, there’s no hard and fast rule for knowing how much time you have left.,
Many EVs lose up to 12% of their charge capacity by the sixth year, and some lose even more. Case in point: By the time a Nissan Leaf reaches eight years old, it may have lost up to 20% of its battery life — in other words, 99 miles per charge versus the 124 you got while it was new.
Why so pricey?
EV batteries use high-demand metals like nickel, cobalt, lithium and manganese, which are also used in phone and laptop batteries. Plus, you need a specialist to replace them. Most car companies only let you get a replacement at one of their dealerships.
EV batteries typically come with eight-year warranties — but beyond that, to replace it, you’re looking at $16,000 minimum.
If you’re considering an EV or already have one …
- Charge at home. When you can, use a home-based, mains-connected charger (e.g., wall outlet) vs. a high-speed charger.
- Weather makes a big difference. EVs operate best between 77 and 113 degrees Fahrenheit.
- Colder temps slow down EV batteries. It also reduces their capacity over time.
Buying a used EV
Most EV battery warranties cover the first eight years or 100,000 miles, whichever comes first. Make sure you know exactly how much time is left on the EV battery’s warranty and how much it’s going to cost to replace it.
🤣 Before you say “Tesla” backward, make sure everyone’s ready. All set? (Oh, tough crowd today!)
