Do electric cars depreciate quickly?
Yes, EVs tend to depreciate more quickly than ICE vehicles, but this gap is closing, and is set to match their depreciation level over time. There are several factors which contribute to this depreciation which will be outlined throughout this guide. EV batteries last longer than most people expect. On average, they lose just 2–3% capacity per year, and many cars still have over 85% after five years. Most battery wear happens early on, then slows down. A slight drop in range doesn’t mean the battery is bad.Modern electric vehicles can retain 80-90% of their original battery capacity after 8-10 years or 100,000+ miles, with the average battery capacity loss at only 2. EV powertrains contain as few as 20 moving parts compared to 2,000+ in petrol engines, resulting in 40% less maintenance over their lifetime.A 2022 study by Geotab found that most EV batteries degrade at a rate of only 2. That means after 5 years, your battery will still hold over 88% of its original range.Most EVs are sold with 8 to 10-year warranties on their batteries and electric motors. That said, like other vehicles, EVs are expected to last as long as similar petrol or diesel vehicles e.
Is there any EV better than Tesla?
Which electric SUV has better range than the Tesla Model Y? Several alternatives exceed the Tesla Model Y’s 373-mile maximum range. The Peugeot E-3008 Long Range leads with 411 miles, followed by the Mercedes EQE SUV at 410 miles. The Hyundai Ioniq 5 matches the Model Y at 354 miles in its Long Range specification. The best electric car is the 2025 Hyundai Ioniq 6, with an overall score of 9. The best luxury electric car is the 2026 Lucid Air, with an overall score of 9. What is the best electric SUV? The best electric SUV is the 2026 Hyundai Ioniq 5, with an overall score of 9.