Study Shows Low Rate of EV Battery Replacements Of Only 2.5%

Despite worries surrounding the potential cost of battery replacements, a recent study conducted by Recurrent revealed some reassuring findings for prospective electric vehicle (EV) owners that suggest such worries may be unwarranted for newer EV models.

According to the study, only 2.5% of EVs have had their batteries replaced to date after analyzing data from over 20,000 EVs. Although, this varies depending on the age of the EV with older models showing higher rates of battery replacements. In detail, EVs produced before 2015 had replacement rates as high as 13% while EVs produced from 2016 onwards have replacement rates less than 1%.

Furthermore, the study also highlights the major advancements in EV battery technology over the years with newer EVs equipped with improved battery chemistries and more effective thermal management systems. As a result, this provides a longer battery lifespan and reduced degradation. Notably, the study also finds that the average battery size has grown by 122% between 2015 and 2022, which delivers newer EVs with larger capacity and resilience against capacity loss.

Through these findings from Recurrent, EV owners should find it reassuring in regards to considering used EVs as worries over its battery health may deter some from opting for them. But, the study suggesting that EV ownership may be more cost-effective than the misconceptions made for the uninformed potential buyers for EVs.

While challenges remain for EVs including high upfront cost of EV batteries and the demand for continued innovation in EV battery technology, this Recurrent study displays valuable insights into EV maintenance and ownership. As EV adoption continues to rise, the confidence and prior knowledge to potential buyers with informative studies like this will make EVs more assured in the automotive landscape.

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