The Best-Selling Electric Vehicles & Their Battery Replacement Costs

Overall, the repair costs are much lower for an electric vehicle compared to the standard internal combustion engine. There are fewer moving parts. That will also drop the number of times one needs to repair an electric vehicle.

Once you get to the battery and the battery system, however, prices skyrocket.

Thatcham Research did a report on something we already know. EV batteries are expensive. It found replacing batteries are 25.5% more expensive than repairs for an internal combustion engine vehicle.

Another study by Solera found repair costs to be 29% higher. High-voltage batteries and control units are 48% more expensive. 

Business Insider took a look at the 2023’s best selling electric vehicles. The information is shocking but not surprising.

Tesla Model Y

• Recurrent Auto says the replacement cost runs between $13,000 and $15,000

Tesla Model 3

• The Model 3 battery replacement is between $13,000 and $15,000.

Chevrolet Bolt

• Recurrent Auto notes replacement cost is between $16,000 and $16,250

Ford Mustang Mach-E

• Ford Parts notes the 2023 Mustang Mach-E battery replacement will be between $31,000 and $39,000 depending on the standard or extended pack
• However, Ford has also developed one that can be serviced module-by-module and that will run between $6,000 to $7,000

Volkswagen ID.4

• Volkswagon lists the price at $27,000

Hyundai Ioniq 5

• Find My Electric lists the replacement cost at $11,000
• The module-by-module costs are about $500 per module

Ford F-150 Lightning

• Ford Parts charges $37,000
• A long range battery can run $50,000
• The battery can be serviced module-by-module for $4,000 to $5,000 per module

Tesla Model X

• Find My Electric estimates replacement at $10,000 to $12,000

BMW i4

• Find My Electric pegs replacement cost at between $13,000 to $15,000

Source link: Digital Insurance — https://bit.ly/458cCew