Wednesday, March 29, 2023

EVs Are The Yugo Of The 21st Century

EVs Are The Yugo Of The 21st Century - I & I Editorial Board
"Way back in the mid-1980s, communist Yugoslavia exported the Yugo, a compact car that sold for around $4,000. 
  • It was so poorly made that bumping into a pole at 5 mph could total it.
Fast forward to today, and a new class of cars has a similar problem. 
A minor accident can cause a total loss, even if the car’s been driven only a few miles. 
The only difference is that these cars aren’t cheap imports from some godforsaken socialist state. These are state-of-art electric vehicles that come with an average sticker price of $55,000.
  • Why are insurance companies totaling low-mileage EVs that have been in a fender bender? For the same reason you could total a new Yugo when backing out of a parking spot. The cost of repair is exorbitant.
  • A replacement battery for a $44,000 Tesla Model 3 can cost up to $20,000.
  • One expert told Reuters that Tesla’s Model Y has “zero repairability” because its battery is built into the structure of the car...

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