In these rough calculations, EVs often come out as the cheaper choice.

But one sticking point for potential EV buyers remains the cost of replacing the battery.

Arecent studysuggests that fewer than 13% of vehicles from 2015 and before had undergone battery replacements.

This figure went down to under 1% for cars from 2016 and above.

How much does it cost to replace an EV’s battery?

“The cost to replace an EV battery is not cheap,” Maluf said.

“But that doesn’t mean you have this big expense coming down the pike.”

How long do EV batteries last?

Batteriesdon’t last forever, but large batteries tend to last longer than yourtypical cheap AAA.

Thecost of EV batterieshas gone down over time.

In fact, Maluf said, industry shifts point to replacement batteries becoming a thing of the past.

“I think the idea of replacing an EV battery is going to vanish over time.

“Five years from now, replacing the battery is going to be very tough, if not impossible.

Make

EVs from different makers will each come with their own battery replacement costs.

Model

Battery replacement costs can vary between models.

Here’s a look at the battery replacement costs of three different Teslas.

Battery recycling

EV makers must factor thecost of disposingold EV batteries into the cost of new ones.

The bottom line: Is getting an EV still worth it?

As price parity for EVs and ICE vehicles has increased, acquisition cost has become less of a factor.

Overall, battery-powered cars requireless maintenancethan ICE cars, according to the US Department of Energy.

For Maluf, the answer to whether EVs are still worth it is clear.

“Absolutely,” he said.

“Especially today, when there are so many incentives to buy an EV.”

FAQ

Will my car insurance cover the cost of an EV battery?

Will my EV battery be covered by my warranty?

What is the lifespan of an EV battery?

Modern EV batteries can last 15 to 20 years and delivering about 200,000 miles of driving.

These figures are also dependent on driving styles, ambient weather, and charging habits.