Replacement electric car batteries getting cheaper – report

1 July 2024, 12:10 pm

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Replacement electric car batteries getting cheaper – report
Image: Drive
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Replacement electric car batteries getting cheaper – report
Image: Drive

AutoExec Summary
The cost of replacing the battery pack on a used electric vehicle is decreasing as the technology becomes more widespread. A report from US electric car website Recurrent claims that battery prices are continuing to fall. According to the report, the cost of replacing the battery in an electric car only occurred in 2.5% of cases within its study group, with the majority of instances occurring on first-generation electric vehicles, which are approximately 14 years old. The report also suggests that the cost involved in replacing a battery pack depends on several factors, such as the popularity of the car, the availability of parts, and the demand in the market. The trend over nearly two decades shows that battery prices are indeed dropping, especially for used battery packs, and will likely continue to decline with the increasing number of new electric cars and the uptake in ownership.

Brands mentioned: Nissan, BMW, Tesla

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