Here are a couple of tragic instances highlighting the substantial cost of electric vehicle (EV) batteries.
- First, a Ford Mustang Mach-E incurred a $28,000 repair bill due to battery damage caused by incorrect towing. It emphasizes the importance of knowing proper towing procedures for EVs and the significant cost of battery replacements.
- Second, a 2013 Tesla owner faced a $22,000 repair bill for a failing battery, ultimately resorting to blowing up the car for a YouTube stunt to gain more money than its salvage value with a dead battery. These stories underscore the necessity of checking an EV’s battery before purchase, as repairs may not be covered by insurance or warranty.
The EV Market’s Potential Surge
Despite supply chain issues and a market primarily dominated by internal combustion vehicles (ICVs), there’s a hidden statistic: only 3% of vehicles in America are EVs. Even a seemingly small shift, say a 1% increase in EV use, could result in a 33% surge in EV numbers. With major automotive players like Toyota, Hyundai, Kia, Nissan, and others introducing new electric models, there’s potential for a significant shift in the market landscape.
Detroit’s Electric Vehicle Push
The auto industry’s focus is shifting from merely discussing ambitions and investing in EVs to showcasing them prominently at dealerships. Car manufacturers plan to unveil numerous new EV models over the next two years, signaling a pivotal moment where the pressure will be on convincing customers to embrace these electric alternatives. The adaptation rate will depend on factors like affordability, performance, and charging infrastructure availability.
Implications for Battery Protection and Market Awareness
As the EV landscape evolves rapidly, protecting your EV’s battery, ensuring proper purchase inspections, and staying attuned to market dynamics become crucial. With the impending surge in both new and used EVs, understanding the risks and potential gains associated with this transition is imperative. The next few years will witness a significant rise in EVs on the roads and at dealerships, altering the automotive industry’s dynamics.