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.