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EV battery replacement will soon cost less than fixing a gas engine: study

  • A new study claims that replacing an electric vehicle battery will soon cost less than fixing the engine of a gas car.
  • The cost of electric vehicle batteries is on pace to be less than a gas engine repair by 2030, according to the study.
  • Goldman Sachs projects that by 2026, battery prices will reach $80 per kilowatt hour (kWh), about half the price of 2023.
  • The study suggests that by 2030, the cost of replacing an EV battery pack could be as low as $3,375 for a standard 75 kWh pack, putting it on par with an engine replacement.

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