How Much Would You Pay For the Best EV Battery?

pcmag.com:

Electric vehicle buyers are willing to shell out some serious cash for the best battery available, according to a new study(Opens in a new window) from battery materials maker Sila(Opens in a new window) and SIS International Research.

Range is the top deterrent for potential EV buyers (34%), followed by charging infrastructure (33%), and price (22%). "The survey found that EV performance—specifically range—is a top consideration and concern for consumers across all pricing segments," the study says.

Forget swanky dash screens and autonomous features, 79% of respondents say they value battery range over all else. In fact, battery performance is so valuable that they're willing to pay over $13,000 on top of the vehicle price for better battery performance as a standalone upgrade.

Tesla, Rivian, Ford, and almost all EV makers offer standard and extended range versions of their vehicles. Rivian, for example, offers three battery-pack options: a standard pack for no additional charge, large pack for $6,000, and max pack for $16,000.

"EV consumers have a strong desire to address their stated anxieties related to range (including loss of range from cold weather and heavy towing)," the study says. "That strong desire results in a high willingness to pay for increased range."

Nearly two-thirds (65%) of buyers looking for a vehicle under $55,000 are interested in paying more for a better battery. Among buyers looking for vehicles above $55,000, over 80% intend to spend extra for the best battery.

Consumers are also open to battery subscription models, like the one Vietnamese brand VinFast initially launched and later abandoned. Survey respondents say they are willing to pay as much as $200-$250 per month for a battery with