This EV company's new battery policy could put pressure on its competitors and help drive the market forward.
BYD Auto, a popular Chinese electric vehicle manufacturing company, "announced a major update to its warranty terms, extending the battery coverage to 8 years or 250,000 km (approx. 155,000 miles), whichever comes first," according to Electrek.
For reference, the industry standard for an EV battery warranty is around eight years or 100,000 miles — 55,000 miles less than what BYD is now offering.
A longer warranty could be the final decision in a deal breaker between EV brands. It could motivate other car companies, like Tesla, Chevrolet, and Ford, to follow suit.
The battery is the most expensive part of an electric vehicle. A longer warranty could help encourage drivers to make their next car an EV.
Driving an electric vehicle is a great way to save money on fuel costs. While savings vary by state, EV drivers can save "up to $2,200 a year for a fully electric vehicle, and $1,500 for a hybrid electric vehicle," according to the U.S. Department of Energy.
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While gas-powered cars constantly produce planet-warming tailpipe emissions, EVs don't. They pay off their production-related carbon debt in just two years. A gas car, on the other hand, continues producing pollution over its lifetime, solidifying EVs as the more sustainable option.
Electrek's commenters expressed interest in BYD's new battery warranty and its potential impact.
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$200 or more 💰 "It seems like consumers are going to be the winners," one user said.
"Tesla started offering extending the battery warranty for $2000," another commenter noted. "... Looks like they just want to make more money."
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