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World EV Sales Now Equal 18% Of World Auto Sales
(cleantechnica.com)
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this post was submitted on 08 Oct 2023
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Seems like the type of cost that we could insure or somehow include in maintenance costs. But hopefully as production ramps up the cost falls quickly. And local mechanics learn to repair them.
Also, the cars with proper charging and cooling, there is a good chance they last the life of the car. A repair being an outlier or not expected, and large, is the type of expenses we buy insurance for.
Renault tried that with their early EVs, people liked it for new cars as it made them slightly cheaper for battery lease plus car lease vs. car lease as Renault retained ownership of the battery.
Subsequent owners did not as the monthly cost was then higher as the battery lease didn't drop in price so it would cost the same or more than the straight car lease for battery plus car lease.
Dearlerships in the UK have surplus used stock stuck with battery leases they can't shift that has depreciated massively (are now great buys secondhand) and Renault dropped the idea a couple of years ago .
Personally it's a great idea as the car gets over ten years old (but not in the middle period of ownership) as Renault have to replace the battery for free if it gets to less than 75% usable with not time limit. So if you keep an older car it will eventually pay out. Meanwhile a normal battery warranty is between 5 and 10 years and between 70 and 60% with tighter mileage, highly unlikely to pay out on an older car. Needless to say Renault are keen for you to buy out a battery lease...
I agree except for buying insurance for repairs. Those are scams, you'd probably be better off putting that money into a general emergency savings fund.
My real estate agent advised me to buy homeowner's warranty coverage when we bought our house. I did not, because I knew those were scams back then too. I have savings instead, and it has worked out for the best.