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EV Lithium-Ion Batteries
Most modern batteries, including the ones you find in the latest smartphones and laptops, are made from Lithium-Ion, and this is the type that is currently found in most EV’s.
However, as you’ve most likely experienced from your old smartphone or laptop, the batteries degrade over the course of a few years, often expedited by repeatedly draining the battery from full, or exposing it to very hot or very cold temperatures.
Obviously, reduced battery performance will mean less miles you will get out of your EV in a single trip.
The battery will need to be replaced once it drops below 75% holding capacity.
EV Battery Leasing Policies
Some EV manufacturers provide a separate monthly fee for the battery, so that you don’t need to worry about battery degradation, and will get a replacement when the current one falls below par.
If your EV doesn’t come with a separate battery lease and you own the whole car including the battery, then it will be yours to dispose of and get replaced out of your own pocket.
However, despite EV batteries often costing around £3k to replace currently, most companies are driving down the cost each year, and once more and more EV’s are mass produced, and battery technology evolves, the cost of the batteries will likely fall too.