One of EV owners' biggest fears is replacing the battery at a cost of $20,000 or more. Although the battery is the single most expensive component in the vehicle, a recent study suggests that this shouldn’t really be a concern if your EV was built after 2015.
Recurrent Auto has looked at over 20,000 EVs and found that, on average, just 2.5% of vehicles had their batteries replaced. This is highly dependent on the year of manufacturing, and, unsurprisingly, the older the EV, the more likely it is to need a new battery. An older Recurrent study said 1.5% of EVs had their batteries replaced.
The new study found that battery replacement rates for EVs built before 2015 are as high as 13%, but for vehicles from 2016 or newer, they drop to 1% or less. The oldest EVs included in the study were from 2011, and about one in three needed a new battery, but this was due to several factors, not just their age.
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