According to Recurrent, electric car battery replacement costs on average between $5,000 and $20,000, i.e. between £4,000 and £16,500. For a Tesla Model 3 for example, replacing the battery could cost between £13,000 and £20,000 depending on the battery pack selected.
The cost of an EV battery will depend on whether you repair or replace. According to Bloomberg New Economic Finance (BNEF), the current cost of a battery is around $135 (£118) per kilowatt-hour. Based on that calculation, the Kia EV6’s 77.4kWh battery is an eye-watering $10,449 (£9,136) to replace.
The analysts concluded that this would be down to declining prices of EV raw materials, such as lithium, nickel, and cobalt. This would mean a battery would cost $99 per kilowatt hour, drastically reducing an electric car battery replacement cost. How Can I Keep My Battery Replacement Cost Down Now?
With an electric car lease, you’ll barely notice battery degradation. Better still, you’ll be able to upgrade to a new car with an (almost guaranteed) longer range battery at the end of your lease. The cost of an EV battery replacement doesn’t bear thinking about.
For a Tesla Model 3 for example, replacing the battery could cost between £13,000 and £20,000 depending on the battery pack selected. You should nonetheless take these estimates with a pinch of salt as it is difficult to give a precise amount since costs vary considerably depending on the EV model, the size of the battery packs and the carmaker.
According to Statista, the average cost of a lithium-ion electric car battery in 2023 was $139 per kWh. This works out as £109.25 per kWh in the UK. While it is still expensive, it is much lower than in 2013 when the cost per kWh was $780 (£613.04). How Much Does an EV Battery Cost?