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2024-05-01 Science & Technology

The used electric car timebomb - older EVs could be hard to sell because batteries aren't guaranteed

[Daily Mail, where America gets its news] 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.

Posted by Skidmark 2024-05-01 00:06|| || Front Page|| [11147 views ] Top

#1 And replacing the battery is worth more than the car is at that point.

Posted by DarthVader 2024-05-01 01:46|| 2024-05-01 01:46|| Front Page Top

#2 You can have a lot of fun with metallic lithium. (also with lithium chloride)

Posted by Grom the Reflective 2024-05-01 07:11|| 2024-05-01 07:11|| Front Page Top

#3 This is refered to as a sunk cost. (hee hee hee)
Don't mean to give anyone ideas about driving a fully insured EV into a flood retention pond. No.

Posted by ed in texas 2024-05-01 08:49|| 2024-05-01 08:49|| Front Page Top

#4 Are you one of the cool kids making organolithiums or birch reductions at home, Grom?

Posted by Mullah Richard 2024-05-01 08:51|| 2024-05-01 08:51|| Front Page Top

#5 Are you one of the cool kids making organolithiums or birch reductions at home, Grom?

Nope. But I was a lab instructor in physical chemistry while doing M.Sc in Biochem - and you have to impress the kiddies (LiCl in another context)

Posted by Grom the Reflective 2024-05-01 09:35|| 2024-05-01 09:35|| Front Page Top

#6 I wonder how Hertz is doing trying to sell those Teslas that no one wanted rent?

Posted by EMS Artifact 2024-05-01 10:04|| 2024-05-01 10:04|| Front Page Top

#7 An EV demolition derby would be spectacular.

Posted by Super Hose 2024-05-01 10:28|| 2024-05-01 10:28|| Front Page Top

#8 Park all new unsold plus used but not salable EV's in DC or at FJB's home. Then wait.

Posted by Whiskey Mike 2024-05-01 14:07|| 2024-05-01 14:07|| Front Page Top

#9 @6 Very poorly. Hertz just took a big write-down on the value of their fleet, and their post-bankruptcy stock is down 80% or so.

Posted by Nero 2024-05-01 15:32|| 2024-05-01 15:32|| Front Page Top

#10

Posted by Sloluth Sheling6069 2024-05-01 16:08|| 2024-05-01 16:08|| Front Page Top

#11 Pic a nym and stick with it, troll

Posted by Frank G 2024-05-01 18:26|| 2024-05-01 18:26|| Front Page Top

01:46 Grom the Affective
01:33 Besoeker
01:22 Besoeker
00:59 Besoeker
00:48 Besoeker
00:40 Frank G