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How much does it cost to make an electric car battery?
I was reading one of your guys’ responses to another question about replacing an electric car’s battery. The article said that it almost always costs thousands of dollars to replace one of these batteries. Why? Are they that expensive for carmakers to make?
Jason Crosby · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’re definitely on the right track.
Electric car batteries
can cost up to $20,000, as most of the vehicle’s costs go toward the battery in the case of EVs. It all depends on the quality of the battery, meaning its range and durability, as well as its size. A car with a 300-mile battery range, and a car with a 500-mile range are going to have significantly different sized batteries and MSRPs. The good thing, as the article you mentioned might have pointed out, is that an electric car battery doesn’t die after 2-3 years as in an ICE-powered car. EV batteries can last up to 20 years, meaning that they’re roughly equivalent to a traditional car’s transmission in terms of repair costs and longevity. And if you’re wondering why electric car batteries are so expensive, it’s because of the components they use—
precious metals
like lithium and gold are needed in order to create an electric car battery. Jerry
can’t make your electric car’s battery cheaper—but we can help you find great, affordable insurance for your EV. Jerry is your ultra-talented car insurance broker for life. No need to sit across from him at a desk: Jerry is an app! It takes less than a minute to sign up, and you’ll be presented with competitive rates from dozens of top providers. Don’t lose coverage—find savings with Jerry. View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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