This EV's battery is far more expensive than the car itself: Know why

Electric vehicles are significantly pricier compared to their internal combustion engine-powered counterparts. The most expensive parts of electric vehicles are the battery packs they draw energy from. However, in China, in a shocking incident, a Polestar 2 owner has been charged the amount of money for replacing the battery pack, which is higher than the car itself.

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The Polestar 2 is built in China, where it costs over $43,000. But one owner was quoted far more than that for a replacement battery pack. The owner reportedly damaged his dual-motor long range Polestar 2 in an accident. It was deemed necessary to replace the battery pack as it had been dented inward and was no longer safe for use, reports CN EV Post.

When the owner took his damaged EV to be repaired at the dealership, he was quoted a whopping $79,200 for a new battery pack to be installed. That is one and a half times more than what he paid for his Polestar 2, claims the report. Polestar reportedly said that the actual price of the battery is $57,900, but the owner may also have been charged for other repairs that were needed on his car.

Electric vehicles are highly expensive because of the lithium-ion batteries that are substantially high priced. The battery pack consists of the lion's share of the retail price of an electric vehicle. The larger and more powerful the battery pack is, the higher priced it is.

In the United States, the cost of a battery pack replacement for a Tesla Model 3 can be around $20,000, while an entirely new Model S pack may exceed $30,000.