An electric car has the potential to last as long as, if not longer than, a car with an internal combustion engine (ICE). This is due to the fact that electric vehicles have fewer mechanical components that can wear out or malfunction compared to gas-powered cars.
Longevity of Electric Cars
The nationwide average age of cars in the United States is now 12.5 years, which is steadily increasing. While electric cars are a relatively recent development, there is no reason to believe that they cannot last as long as ICE vehicles, as long as they are properly maintained. Let's delve into the topic of EV battery life to learn more.
Concerns about Battery Replacement
Since the introduction of hybrids over 20 years ago, battery replacement has become a top concern for those interested in electric vehicles. This concern has grown even more with the rise in fully electric vehicles that come with larger and more expensive batteries. Experts estimate that the cost of a new EV battery accounts for around 30% to 40% of the total cost of the car. According to Digital Trends, the price range for a replacement battery is typically between $4,000 and $20,000. For instance, a replacement battery for a Tesla Model 3 currently costs approximately $13,500.
Longevity of EV Batteries
The good news is that these batteries can last anywhere from 15 to 20 years, meaning that they could potentially outlive the electric vehicles themselves. Most EV batteries come with warranty coverage for a minimum of eight years or 100,000 miles, whichever comes first. Some warranties even extend up to 10 years or 150,000 miles, or even longer.
Battery Degradation and Replacement
Over time, electric car batteries do degrade, resulting in reduced charging capacities. However, many EV battery warranties include provisions for replacement if the capacity drops below a certain level during the covered period. The likelihood of an EV battery completely failing is extremely low.