The Expert Podcast

This is a post that's been making the rounds on social media. About a replacement of a battery on an electric vehicle It's It's a Chevy bolt, 70,000 miles I believe it was a 2015 If I remember correctly…and it shows an actual repair. Bill from a Chevrolet dealership. For this Chevy bolt here's the VIN number? Odometer 70,000 4 89. And it has the amount for a replacement battery, 26,853. and 99 cents. 1,200 and labor. Tax, basically the total is 29,000 8 42. Round it off It's 30 grand to replace a battery on this vehicle. We looked up the book value of this vehicle It's roughly 22,000 Is the book value. So the battery costs more than. The used car. Matter of fact this, this car probably didn't cost much more than 30,000 when it was sold as new…What does this mean? Well, obviously not all of these batteries need to be replaced at 70,000 miles. Some will some won't…Electric vehicle batteries are typically warrantied for eight years a hundred thousand miles. Well, this one. Might be more than eight years old…The 2013. 2014 even…Eight years old. So this battery may not be covered. Also most people drive. more than 20,000 miles a year. So if you…get a five-year-old vehicle at 20,000. You're going to be over a hundred grand Very very quickly. It's still unknown how long these batteries will last Some are lasting longer, but electric vehicles pure plugins have not been around that long. We're just now starting to see. Some of these replacements So what's going to happen part of the problem too is that…Electric vehicle batteries are not a high turnover part. Unlike tires brakes shocks things that we're out You have to replace even engine components. Like pistons or valve. Guides or head gaskets. Or even exhaust systems, you have to replace those on a regular basis on the vehicle And there's a lot of vehicles that are out there that need these So the parts are relatively inexpensive Even if you need a new engine…for a vehicle. I can't imagine any new vehicle that's been sold in the last…10 years, unless it's a very exotic Ferrari or Porsche that you couldn't replace an engine for less than $10,000 Replace a whole engine. That's the most expension expensive part of a gasoline vehicle. And here you are with a battery that's $30,000 What's the reason because. They don't produce a lot of these batteries that are extra engines They make them all the time to put in cars. Batteries are not Plus the labor is very expensive because the batteries an integral component of the vehicle. So, again this may just be an exception to the rule There may be more to this story than meets the eye. But it's not the first time that we've seen. Electric vehicle battery costs be. Apparently expensive. Tell us what your thoughts are on the comment. Is this something that is going to be a common thing Do you have to basically. Get rid of your car when the battery wears out like you do your cell phone. Or will the warranties kick in and handle this?