As EV adoption grows, so too does the basic understanding of how these vehicles function. While it may still seem bonkers, EVs are managing to take us from Point A to Point B using only a few dozen moving parts, in stark contrast to the tens of thousands you may find in vehicles with internal combustion engines. As you could imagine, this ultimately leads to fewer opportunities for something to go wrong, thus saving the owner a few dollars on repairs and maintenance over the lifetime of the vehicle.
However, throwing a wrench into this penny-pinching dream is the fact that the technology found in today’s EVs is fairly new and generally more expensive to repair.
“In your typical ICE vehicle, you may have 20,000 individual and moving parts. In an EV vehicle, you may have 20 to 50 moving parts. The failure rate for those parts may be much smaller, but the cost to repair those parts is much, much higher right now,” says Joshua Sonnier, vice president of product and strategy realization at insurance provider Assurant. “As with any new technology in its infancy, the cost to repair is much higher. So, from our standpoint, it actually gets you or the consumer to about the same risk profile.”
In this episode of The Amped EV Podcast, Sonnier talks us through reasons why an EV might find themselves at their local auto repair shop, as well as how often, and also discusses factors that drivers have to weigh beyond the sticker price when it comes to overall vehicle value.
This is an audio-only version of our episode with Joshua Sonnier, vice president of product and strategy realization at insurance provider Assurant. Go ahead, you’re already here – take a listen! But, if you’re looking for moving photos, click here.