This electrifying news comes from the U.S. Department of Energy, who teamed up with Recurrent, a company that keeps tabs on battery life like a hawk.
Recurrent offers a unique service that tracks battery health for tens of thousands of PHEV and EV owners, providing them with a battery life report that's like a vehicle history report for batteries. With the battery being the most expensive part of an EV, this information is pure gold for potential buyers who've been hesitant due to concerns about battery replacement costs.
The new study reveals that a mere 1.5% of electric vehicles (EVs) and plug-in hybrid vehicles (PHEVs) have needed their batteries replaced since 2011.
The Energy Department is happy to report that batteries have become more reliable in recent years. In fact, replacement rates due to failure for cars from model years 2016 and later were "well under 1%." And don't forget, most of those replacements would have been covered by the manufacturer's warranty.
So, the next time someone tells you they're worried about battery replacement costs, just give them a wink and say, "Relax, it's only 1.5%!"