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How Much Do Electric Car Batteries Cost?

by Index Investing News
October 2, 2022
in Markets
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When it comes to the cost of car batteries, electric vehicles take the trophy for the most expensive type. Depending on the make and model of your vehicle, a battery can run you between $4,000 and $20,000. If you own your electric vehicle long enough to need to replace the battery, this maintenance will be a major portion of the the total cost of owning a car.

Here’s a rundown on the average costs of electric car batteries.

Cost to replace electric car batteries

Electric car batteries are a cake of a different flavor altogether. Unlike traditional batteries and those used with hybrids, all-electric car batteries must be charged regularly. And similar to how our electronics start to lose their charge sooner over time, electric vehicle batteries also slowly degrade and lose their efficiency despite regular charging.

The good news here is that quality electric batteries can last a long time, with most electric car batteries driving 200,000-300,000 miles before needing to be replaced. The bad news is that when you do need to replace them, electric batteries can run you between $4,000 and $20,000.

The total cost for an electric battery depends on the car’s make and model and is likely to be related to the original cost of the car: The more expensive the electric vehicle, the more expensive the battery.

Discounted electric battery options

Remanufactured electric battery: Remanufactured batteries for electric cars offer cheaper alternatives for car owners. However, there aren’t a lot of options available for electric car owners who want to buy a cheaper battery outside of a dealership or mechanic shop. Even with a remanufactured battery, a Tesla battery replacement could run around $14,000.

Used electric battery: There are some used batteries out there for electric cars, but they come with the caveat that a battery’s charging history can affect its condition. If the previous owner didn’t follow best practices for charging the battery, it could have fewer miles left in it than you expect. But buying a used electric battery does save you money upfront, usually several thousand dollars, depending on the model.

Installation

As with other battery installations, you’ll need to account for labor charges as well, which can range from a few hours to several hours. And electric batteries sometimes require additional parts like connectors to install, which can add anywhere from $20-$200 on to your bill.



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