Posted on 04/30/2024 8:23:30 PM PDT by Libloather
Money Mail can today reveal a timebomb looming in the second-hand market for electric vehicles (EVs).
Our investigation found that many EVs could become almost impossible to resell because of their limited battery life.
Experts said that the average EV battery guarantee lasts just eight years. After this time, the battery may lose power more quickly and so reduce mileage between charges.
Many EVs will lose up to 12 per cent of their charge capacity by six years. Some may lose even more.
Yet the cost of replacing an EV battery is astonishingly high, our research found.
In some cases, the cost of a replacement battery is as much as £40,000. For certain EVs, the cost of replacing the battery could be ten times the value of the vehicle itself on the second-hand market.
That means used EVs have a limited lifespan — which makes them a bigger and bigger risk as the years go by.
Research into EV batteries is yet to be conclusive and the second-hand EV market is new, given the first popular EVs were rolled off the production line in 2009.
Last night, one motoring expert said customers should be wary of buying a used electric car beyond its warranty (typically eight years), as after that timespan there is no easy way of measuring how much the battery will degrade before it needs replacing.
This may mean you end up needing to pay for an expensive new battery.
Motor expert Shahzad Sheikh, who runs the YouTube channel Brown Car Guy, said: ‘With a decaying battery, the range will be poor and you may find it becomes increasingly hard to resell the vehicle after eight years.
Buyers will know that they’ll only get a small amount of life out of the car so will pay...
(Excerpt) Read more at dailymail.co.uk ...
Anyone buying a used EV needs to have their HEAD EXAMINED. Same for a new one, for that matter.
Well duh.
They just figured this out now? Anyone with half a dozen functioning brain cells and has owned a cell phone and watched the lithium ion battery capacity fade away saw this years ago.
Until someone comes up with the wallmart of battery sales and works on volume over profit margin there will be no relief in battery buying whether old or new.
There are a number of companies out there selling to car makers that are generating a huge margin at this point even before the feds make everyone go into them.
Here’s a site that may give you a stomach ache:
https://www.thomasnet.com/articles/top-suppliers/ev-battery-manufacturers-companies/
wy69
“Experts said that the average EV battery guarantee lasts just eight years. After this time, the battery may lose power more quickly and so reduce mileage between charges.”
Tesla data shows that after the first year the capacity loss slows.
“Many EVs will lose up to 12 per cent of their charge capacity by six years. Some may lose even more.”
Tesla data shows that the batteries retain 90% capacity after 200,000 miles.
And that data is for older tech batteries.
Poor people who are desperate will probably be falling for these old cars in coming years, they’ll look good and seem good and will be selling cheap.
Upscale people got the incentives and won’t have to deal with the waste and the problems.
I am not interested in electric cars, and do not like them being subsidized.
I also don’t like the idea of throwing away a perfectly good car body, seats, electric motor, etc. because the battery os no good.
People rebuild car engines, and depending on the engine save a lot of money over throwing in a new one. Same with transmissions. Is it possible that we could eventually see a market for reconditioned batteries, or batteries made with something other than Li-ion to get a few more years out of that Tesla or Leaf for not quite so much money?
It won’t be for me. Our 2018 Toyota Avalon is the newest car we will ever own (unless my wife buys something after I die). But just to avoid throwing away perfectly good motors and car bodies.
Free Batteries for all!
Jao promised.
Where’s the fraction that catch on fire?
It is not their concern when they force us to do what they want.
“In some cases, the cost of a replacement battery is as much as £40,000. For certain EVs, the cost of replacing the battery could be ten times the value of the vehicle itself on the second-hand market.”
As Tesla ramps up production of the Model 3 and constantly works to improve their battery design, it’s quite possible that the prices will fall dramatically in the next few years. For now, our lowest out-of-pocket cost estimate for uncomplicated battery replacement on a Model 3 is approximately $13,000 (assuming $12,000 for the battery alone, $100 for the miscellaneous parts, and $500 for labor).
https://www.findmyelectric.com/blog/tesla-battery-replacement-cost-explained/
“Where’s the fraction that catch on fire?”
Smaller than the fraction of ICE vehicles that catch on fire.
“I also don’t like the idea of throwing away a perfectly good car body, seats, electric motor, etc. because the battery os no good.”
Where did you get that notion?
It is also very difficult, time consuming, and potentially impossible to check a used battery for defects. Even hiring an expert mechanic to check out a used car ahead of time is no guarantee of quality.
Well then Tesla is full of crap because batteries are not just about miles they are about the number of years since they were made. Even a battery that was never used will expire in a number of years. So basing battery life only on miles is deceptive at best.
Does anyone actually believe that Tesla propaganda (other than you and the other fan boys)?
they’re a one owner disposable car...
Not guaranteed? Neither are solar panels. In the 20 years it takes to pay them off the only guarantee is the solar companies will get paid. /they only sell to home owners. Pretty smart.
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