ultimately unaffordable. As a result, they will fail.
Electric cars are very “torquey” and fun to drive. But they are a toy of the fabulously rich. They may work in very specific situations, but really they are just a “niche” product.
Unfortunately for Hsu, it turned out that the battery protector cover on his car’s undercarriage was warped, a problem that could in certain instances cause the battery to explode. This meant that he would have to replace his car’s battery pack in addition to fixing its structural damage. Hsu says he was shocked when the estimate to replace the battery came in at $61,000 Canadian, or about $46,000 in US dollars. That’s almost $6,000 more than he paid for the car when he purchased it brand new.
Even worse, because the damage was caused by an accident, the bill was not covered by the car’s warranty, leaving Hsu with the alternative of filing a claim with his insurance carrier. But the resulting insurance implications were enormous, with Mr. Hsu facing a rate increase of up to 50% if he filed the claim. His only other choice would be to foot the repair bill himself and now have over $87,000 US dollars invested in a $41,000 car.
This is insane. This is not sustainable. The EV industry simply cannot have stories like this one popping up with increasing frequency and hope to sustain growing demand for its products.
But wait, that’s not all! There are other issues:
- range anxiety that pops up any time the weather isn’t perfect;
- the lack of charging infrastructure;
- the unreliability of the infrastructure that does exist;
- the non-recyclability of the battery materials;
- the increasing restrictions on charging due to the massive load EVs place on the grid;
So yeah, let’s just say that there are issues. Let me say again that I think these vehicles can make sense in limited situations. But not generally as a replacement for a car with an ICE.