Top 10 most purchased EVs and their battery replacement costs

One significant aspect that sets electric vehicles (EVs) apart is the disparity in repair costs compared to traditional internal combustion engine (ICE) vehicles. Unlike conventional vehicles, which often require maintenance for their mechanical systems, EVs have simpler systems with fewer moving parts. However, while this may reduce the frequency of repairs, the repair costs for EVs can be notably higher due to the intricate and costly nature of their battery systems. In the event of battery damage, replacement costs can soar, significantly impacting overall ownership expenses. 

Research from Thatcham shows that replacing EV batteries is expensive; on average, claims for replacing batteries are about 25.5% more expensive than claims for combustion vehicle repairs. A Solera study that uses data from the organization's global claims database found that EV repair costs are 29% higher than ICE vehicles globally and EV parts, including high-voltage batteries and control units, are 48% more expensive.

Here are the battery replacement costs for the most purchased EVs of 2023, according to Business Insider.