Electric vehicles are powered by a combination of battery capacity and a specialized engine that works with electric power, rather than gasoline or diesel fuel (via U.S. Department of Energy). As a result, electric vehicles require two significant components to propel them when in use. The typical vehicle on American roadways today likely won’t require an engine replacement/rebuild unless it is an older vehicle or being used as an antique/enthusiast vehicle. Conversely, electric vehicles will require a new battery to continue functioning at optimal performance if the car is owned and driven for long enough. EV Connect notes that a typical battery will lose just under 2.5% of its full capacity when charged after each year of use. And this loss of productivity only continues to grow as you drive the car longer and longer.
Rather than decades of service, EV owners are looking at years before they have to replace the most critical component of the vehicle. There are some dramatic benefits that electric vehicle use can provide — most prominently is the rejection of the gas station pump. However, the Institute for Energy Research reports that the battery pack on an electric vehicle makes up 30% to 40% of the car’s total cost, and so replacing this component can be a significantly expensive requirement in order to keep your vehicle on the road.