EV warranty claims more than triple in three years

Electric Vehicle (EV) warranty claims have increased by 370% over the past three years reflecting the increasing maintenance needs of an aging fleet.

Ownership solutions specialist MotorEasy said that following its own survey, the findings dispel the misconception that EVs have fewer servicing, maintenance and repair (SMR) requirements than ICE vehicles, demonstrating that the cost implications of EV ownership require as much financial planning as petrol and diesel vehicles.

Alongside the increasing volume of repairs, the average cost of an EV warranty claim has also shown a significant uptick.

For example, in 2021, the average claim across the MG EV range was £430 and in 2023 it is £2,200, a 390% increase. A similar trend can also be seen with Tesla, with the cost of claims rising 231% since 2021.

Duncan McClure Fisher, CEO of MotorEasy’s parent company Intelligent Motoring said: “While there remains a perception that EVs have fewer moving parts and less can go wrong with them, in reality we're seeing an equivalent mix of failures to petrol and diesel vehicles.

“Despite the drivetrain components being obviously very different, the suspension and braking components are often very similar, and are put under greater strain due to the increased weight of EVs. This creates a similar breadth of failures for EVs versus ICE vehicles, though a slight swing from drivetrain issues to suspension and braking issues can be observed.”