A Canadian man, Kyle Hsu, faced a shocking situation when he discovered that replacing his electric car’s battery pack would cost more than the original price of the vehicle.
After a minor accident, the damage to the undercarriage led to a quote of $61,000 for battery replacement, $6,000 more than the car’s initial cost.
Hsu was left with two unfavorable options: paying for the repair or involving his insurance, both incurring substantial costs. (Trending: Melania Trump Announces Big Change For 2024)
Andrea Spencer said, “This is a wake-up call.”
“The story is, people are buying these cars not knowing what the actual cost of the most important component of the car is to replace,” added Zach Spencer.
Werner Antweiler, a professor in the Sauder School of Business at the University of B.C., said, “The battery pack alone is often 30 percent or more of the actual vehicle cost still. So this is a very significant thing.”
This incident serves as a warning to potential EV buyers about the significant expenses associated with battery replacement.
Additionally, it highlights the potential impact on insurance premiums.
The story emphasizes the high costs and challenges associated with EV ownership, prompting some to reconsider purchasing electric vehicles.
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