20-year EV battery lifespan with 1.8% annual degradation rate, according to Geotab report.
A Geotab report finds that electric vehicle (EV) batteries can last 20 years or more, with an average annual degradation rate of 1.8%, an improvement from 2.3% in 2019. Analyzed data from nearly 5,000 EVs showed that high-mileage vehicles do not degrade faster than others. The findings suggest that modern EVs are reliable and cost-effective replacements for various internal combustion engine vehicles, addressing common concerns about battery longevity.
September 17, 2024
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