Switching to an electric car may save thousands of shekels a year, most of us know that. But what are the unique maintenance and care expenses for the electric vehicle - and what is the biggest expense?
Electric vehicles are gaining momentum in Israel, largely due to low maintenance costs. Alongside this, there are unique costs that are characteristic of electric vehicles, which may sometimes increase the scope of current expenses. What are those expenses, and how can they be dealt with?
charging station cost
Switching to an electric vehicle can save up to 80% of the fueling costs used in parallel gasoline vehicles, among other things due to the low cost of household electricity. Installing a home charging station pays off over time and can save thousands of shekels a year, but it involves an additional cost beyond the purchase of the electric vehicle.
How much does it cost to install a home charging station? The installation cost varies according to several parameters - such as the type of stand (slow or fast), the position of the stand and its distance from the house. In general, the price of a charging station usually ranges between NIS 1,500-6,000.
Changing tires
Electric vehicles contain far fewer moving parts than gasoline vehicles, reducing wear and tear and the need to replace them. As a result, the cost of periodic treatments decreases. Alongside this, there are components in an electric vehicle that are characterized by increased wear: the tires. This is due to the fact that an electric vehicle is often hundreds of kilograms heavier than gasoline vehicles due to the weight of the battery. The increased load increases the wear of the tires, requiring their replacement and more frequent front alignment.
Following these characteristics, dedicated tires for electric vehicles that use unique and more durable compounds have been launched in recent years. Along with using lu tires, whose prices are higher compared to the price of standard tires, the nature of driving can also have an effect on the degree of wear.
The cost of the technological components
The electric vehicles are loaded with computing capabilities, cameras, sensors and advanced technologies whose cost may be high. To illustrate, even the windshields in the electric vehicle may include advanced sensors whose repair may increase the costs. hence The importance of electric vehicle insurance With a cover that allows the replacement of original windshields, and if necessary also includes coverage for the treatment of the technological means accompanying the windshields.
Battery Replacement
The most expensive component in the electric vehicle, without competition, is the battery, whose price usually ranges from 20,000 NIS to 80,000 NIS. The price of the battery is influenced, among other things, by the expensive production process, advanced chemical processing and the need to meet strict safety standards that will allow for regular use.
Against the expensive price of the battery, most electric vehicle manufacturers provide a warranty on the battery for 7-10 years or for 150-160 thousand km, whichever comes first (due to the fact that the average distance traveled by a private car in Israel as of 2019 was 15,600 km, An average car takes more than a decade to travel 160,000 km).
Along with the warranty provided by the manufacturers of electric vehicles, the price of batteries is decreasing over the years as a result of technological improvements. To illustrate, the price of battery production has dropped by nearly 90% per kWh (the units that measure battery energy) over the past decade. According to analysts' forecasts, the price is expected to drop by dozens of percent until the end of the current decade.
Beyond that, the current cost refers to replacing the battery, while in some cases it is possible to identify defective cells and replace them point by point - without replacing the entire battery. Even if the repair cost will be relatively high, it is still expected to be lower than replacing the entire battery and in addition, the repair costs may also decrease as time passes.
Another consideration related to the battery is the range anxiety of many buyers who are thinking of switching to an electric vehicle: the fear of the battery draining in the middle of the trip. The increase in the driving range of electric vehicles, which currently reach 300-500 km, reduces the fear. But even when the battery runs out, it's not the end of the world. Precisely for this reason, it is important to purchase electric vehicle insurance that includes dedicated road and towing services: for example, Phoenix electric vehicle insurance includes towing to a charging station in the event of the battery being depleted.
And what about battery repair, is it covered under electric vehicle insurance? Phoenix's electric vehicle insurance includes coverage for battery repair in the event of damage as a result of an accident.
Although the maintenance of an electric vehicle is sometimes characterized by unique expenses, in general it can be seen that its use can save thousands of shekels per year compared to gasoline vehicles. Taking out electric vehicle insurance will help reduce risks and costs at the moment of truth, and will make its maintenance even more profitable.
The article is promoted content in collaboration with Fenix Smart.
