Insurers are being pushed into writing off numerous electric vehicles with only minor damage to battery packs, forcing the batteries to be sent to scrap yards and undermining the climate benefits of going electric. Battery packs cover roughly half the cost of an electric vehicle, sometimes costing tens of thousands of dollars, often making it more economical for insurers to consider junking the car rather than replacing the battery pack, according to Reuters. The trend has emerged as an unanticipated downside to the rapid transition towards electric vehicles, which have been widely acknowledged for their environmental benefits and potential to … Continue reading Insurers Writing off Electric Vehicles over Minor Damage: Climate Benefits of Electric Vehicles Undermined