It Costs a Lot to Replace EV Batteries, but How Often Do You Need to?

Electric vehicles are becoming more affordable each year, with purchase prices now nearing those of gas-powered cars, as reported by the Washington Post. However, the debate between EVs and internal combustion engine vehicles continues to heat up, especially on platforms such as Reddit, where users compare the total cost of ownership for both types of vehicles over time. In these rough calculations, EVs often come out as the cheaper choice. But one sticking point for potential EV buyers remains the cost of replacing the battery. A recent study suggests that fewer than 13% of vehicles from 2015 and before had undergone battery replacements. This figure went down to under 1% for cars from 2016 and above. This raises the question: Are electric vehicles truly the better deal when you factor in the cost of a replacement battery? We spoke to a battery expert to get insight on how much it costs to replace an EV battery and whether EVs or ICE cars offer the best long-term value. How much do ... Read full article.