by DAVID BLACKMON at dailycaller.com
In a story that seems to be becoming increasingly common as time goes on, The Western Journal reported this week about a Canadian EV owner experiencing some massive sticker shock over the cost of replacing the damaged battery in his electric vehicle.
Now, those of us who have always driven internal combustion engine (ICE) cars have at one time or another been faced with big repair bills for some of those vehicles. I can remember spending $4,000 on a new radiator for a 10-year-old Infiniti QX 50 with 220,000 miles on it that I just couldn’t bear to part with several years back. I did finally retire that wonderful vehicle when faced with the prospect of a $6,000 tag for a rebuilt transmission.
So, all cars will eventually cost you or your insurance company big money to repair — no one is saying that’s unique to EVs. But where EVs are concerned, it’s the magnitude of the price for replacing a damaged or worn-out battery that is often quite eye-popping.
I wrote a story in September about a fellow in the U.S. deciding to junk his paid-off EV when he got an estimate of $30k to replace his battery. We now see frequent reports that auto insurance companies are charging higher rates for EVs than for comparable ICE cars due in large part to this extravagant battery replacement cost.
If you think that $30,000 is extravagant, well, get ready, because it apparently isn’t even close to the worst-case scenario. Per the Western Journal, a Canadian man, Kyle Hsu, paid roughly $55,000 Canadian ($41,583 US) in 2022 to buy a brand new Hyundai IONIQ 5. But, less than a year later, Mr. Hsu was involved in what seemed to be a minor accident resulting in superficial damage to his beautiful EV.