Scratched EV battery? Your insurer may have to junk the whole car 👀
(Don't @ me, but if anything is going to do the #lithium bull case in, it's things like this)
Quite the article...
Thread/1 of 7
reuters.com
(Don't @ me, but if anything is going to do the #lithium bull case in, it's things like this)
Quite the article...
Thread/1 of 7
reuters.com
For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles - leading to higher premiums and undercutting gains from going electric./2
"EVs aren't very sustainable if you've got to throw the battery away after a minor collision."
"Model Y battery has "zero repairability"
Battery packs can cost 10s of thousands of $'s and represent up to 50% of an EV's price tag, often making it uneconomical to replace them/3
"Model Y battery has "zero repairability"
Battery packs can cost 10s of thousands of $'s and represent up to 50% of an EV's price tag, often making it uneconomical to replace them/3
'EV battery production emits far more CO2 than fossil-fuel models, meaning EVs must be driven for thousands of miles before they offset those extra emissions.'
"If you throw away the vehicle at an early stage, you've lost pretty much all advantage in terms of CO2 emissions"/4
"If you throw away the vehicle at an early stage, you've lost pretty much all advantage in terms of CO2 emissions"/4
"A Tesla structural battery pack is going straight to the grinder"
UK's largest salvage company, over the last 12 months the number of EVs in the isolation bay – where they must be checked to avoid fire risk - has soared, from perhaps a dozen every 3 days to up to 20 per day/5
UK's largest salvage company, over the last 12 months the number of EVs in the isolation bay – where they must be checked to avoid fire risk - has soared, from perhaps a dozen every 3 days to up to 20 per day/5
Policygenius: avg US monthly EV insurance payment in 2023 is $206, +27% than for an ICE model.
Bankrate: U.S. insurers know that "if even a minor accident results in damage to the battery pack ... the cost to replace this key component may exceed $15,000."/6
Bankrate: U.S. insurers know that "if even a minor accident results in damage to the battery pack ... the cost to replace this key component may exceed $15,000."/6
Lack of access to critical diagnostic data was raised in mid-March in a class action filed against Tesla in U.S. District Court in California.
EV battery damage makes up just a few percent of Allianz's motor insurance claims, but 8% of claims costs in Germany/END
EV battery damage makes up just a few percent of Allianz's motor insurance claims, but 8% of claims costs in Germany/END
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