Mainstream adoption of electric cars faces a significant hurdle due to higher repair costs, longer repair times, and a higher likelihood of write-offs, according to a new report. The study found that electric vehicle (EV) claims are 25.5% more expensive to repair and take 14% longer to fix. The high cost of repairing and replacing EV batteries makes them less likely to be repaired and more likely to be written off. This has significant implications for motor insurers, premiums, and consumer acceptance of EVs. The report also highlighted the increasing number of write-offs due to the depreciating value of used electric cars and the lack of repair solutions for damaged batteries. In addition, the storage of damaged EVs poses a challenge for repair centers due to fire risk regulations. Without significant changes, the cost of EV insurance claims will continue to rise, hindering the adoption of electric cars.
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