Why insurance is becoming more expensive: Battery damage makes electric cars a financial challenge.

The article reports that the high cost of electric cars is due to the expensive batteries. If the batteries are damaged in an accident, repairs are rarely possible, which can lead to total economic loss. The research center “Thatcham Research” is already seeing an increase in insurance premiums for electric cars due to this problem. The battery boxes in electric cars are increasingly being designed as load-bearing structural parts of the body, which makes repairs more difficult. The search shows that more and more electric cars are being written off even after minor accidents. Tesla boss Elon Musk has already noted that insurance premiums for electric cars are unreasonably high. The EU Battery Regulation requires, among other things, easier maintenance, repair and reuse of e-car traction batteries.

Own analysis and effects:

The rising costs of electric cars due to the expensive batteries have an impact on various areas. On the one hand, insurance premiums for electric cars are increasing because repairs to damaged batteries are rarely possible. This means that vehicles often have to be written off after accidents. This trend is expected to continue as more and more electric cars are on the road.
To counter rising costs and the problem of unrepairable batteries, there may be changes in the automotive industry. Vehicle manufacturers could start making battery boxes repairable or provide alternative solutions. However, this could incur additional costs and further increase the price of electric cars.
Furthermore, it is expected that the EU battery regulation will have an impact on the market. The demand for easier maintenance, repair and reuse of e-car traction batteries could lead to the development of new business areas and services. Companies that specialize in repairing, recycling or reusing batteries could benefit from this development.

Source:

According to a report by www.auto-motor-und-sport.de