Thursday, May 2, 2024

The Used EV Timebomb

Last night, one motoring expert said customers should be wary of buying a used electric car beyond its warranty, as after that timespan there is no easy way of measuring how much the battery will degrade before it needs replacing.

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.

Should your petrol engine need replacing you can expect to pay around £5,000, but replace the battery on your EV outside warranty and you're looking at an eye-watering £13,000 to £40,000, depending on the make of your car, if you fit a manufacturer's new unit.

The high cost of EV batteries is a result of it being difficult to mine metals such as nickel, cobalt, lithium and manganese that are used in the lithium-ion batteries.

In the most extreme cases, such as with a 12-year-old Nissan Leaf that cost £2,000 to buy, you can pay as much as £24,000 for a brand-new replacement 24kWh battery.

'The second-hand market might seem a natural place to look for an EV but unfortunately it is fraught with danger as the batteries are worth more than the car.

Vehicle trading website AA Cars agrees and says that nearly half of all potential second-hand EV buyers are put off because of concerns about battery life. 

https://notalotofpeopleknowthat.wordpress.com/2024/05/01/the-used-ev-timebomb/ 

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