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There are several factors that determine the replacement cost of an electric car battery, including the make and model of the car, the size and capacity of the battery, market prices,.
Electric car battery replacement costs outside of warranty typically range from $5,000 to $16,000, depending on the pack size and manufacturer, but these out-of-pocket repairs are extremely rare. If you buy a new EV, you will probably never have to think about battery replacement or even battery maintenance.
Tesla revealed that the price was $15,000, and that the battery used as the replacement was not a new battery, but rather a refurbished battery installed by Tesla's service center. In this case, the cost to replace the battery with a used one was roughly equal to the residual value of the used Tesla.
Replacing the battery in an EV, however, can be a costly proposition. Related: Fortunately, an EV battery is designed to last for the expected lifetime of the vehicle, and federal regulations require automakers to offer a powertrain warranty that covers the battery.
Battery analytics company Recurrent found that the likelihood of an EV needing a battery replacement is relatively small. In a study of 15,000 electric cars, only 1.5% had their batteries replaced at some point (outside of manufacturer recalls, including the one GM issued for the Chevrolet Bolt EV).
Both owners took their vehicles to their local authorized Hyundai dealer to get an estimate to have the battery replaced using their insurance policy. The prices ended up being about $60,000 Canadian, roughly equal to the price of the vehicle when new.
Since the original mass market EVs in 2012, battery prices have fallen from over $400/kWh to $111/kWh by the end of 2024. That's a massive drop over just 12 years. As battery prices continue to decline, the price you would pay today is different than the price you would pay next year or in 5 years.
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