The Real Reason EV Repairs Are So Expensive
“If you’re replacing a damaged battery with a new one, suddenly, once you’ve added in the other costs in terms of labor and hire cars,” says Mark Fry, an engineering manager at Thatcham Research, “it’s just not always economical to repair the car.”A spokesman for the Association for British Insurers adds that there are issues around the availability of repairers in the UK. The EV insurance market is, arguably, a little wobbly at present. In September, major British retailer John Lewis was forced to stop insuring EVs altogether after its underwriter, Covéa, withdrew cover for these vehicles. A spokeswoman for Covéa declined to clarify why the firm changed tack.Some US-based insurance firms also exclude EVs, says Tim Zawacki, an analyst at S&P Global Market Intelligence. He says the ind...
