I typically buy new and hold the vehicles for ten years. Due to the great electricity rate in our area, I think my next vehicle should be an EV.
For ICE cars that works out fine but is it the same for EVs? For instance, does the battery capacity degenerate like a regular battery in a car? Do the engines/motors hold up for 10+ years?
Any other known issues for EVs if you hold them for 10 years?
In my opinion, none of the questions matters in an EV. The reason I am saying this is because my current ride will have paid for itself within 8 years via gas savings since I charge via rooftop solar 95% of the time.
Owning one will be the best idea because majorly, you will have minimal problems. There is no maintenance other than brakes, tires windshield wipers.
Personally, I acquired a 2020 Bolt and I can assure you that I have never had problems with my car and love it. It will definitely serve me 10 years and more because this is the 7th year and the EV is as good as new.
I have enjoyed the service of mine for 6 years and it is better than the day I bought it because I have done some software upgrades here and there.
In addition, I rotated the tyres and put wiper fluid in. I calculated that I pay about $25/month in electricity to charge it. I drive about 10K miles per year. It is also to put this across that I have seen no battery degradation.
If you need an EV that will serve you ten years, I’ll advise you to buy a new Hyundai or Kia because the two have a 10-year battery and engine warranties and a 5-year 60k bumper to bumper. This will guarantee that you will at least have them for 10 years.
Not a good idea. Personally, I decided to lease for our first EV this is because, with batteries and tech improving and prices changing so quickly, I expect better options to be available in 3 years. And there were some fantastic lease incentives.
I have my Kia EV6 which is already 6 years old. 3-4% battery degradation. I can say surely that everything else is good except external things like tyres. Brakes should last a long time if the car has good regenerative braking.
Therefore get one if need be and enjoy the service.
I owned a Model S for almost 10 years old till I sold it. Although I sold it, it was still performing very well, with about 10% degradation, on a range of about 250 miles. I would have loved to keep it but unfortunately, insurance was so expensive.
Evs are durable and that is a fact. My 2015 BMW i3 has been on the road for the past 9 years and still going strong. I even know some people with 10-year-old 2014 i3s that work great as well.