As electric vehicles (EVs) continue to grow in popularity, insurers are encountering higher repair costs compared to traditional internal combustion engine (ICE) vehicles. Several factors contribute to this trend:
- Specialised Repair Skills:
EVs require specific expertise for repairs, particularly due to their complex electrical systems and battery technology. Technicians must undergo specialised training to safely handle high-voltage components, leading to increased labour costs and longer repair times. - Expensive Parts and Components:
EVs are often equipped with high-cost parts, especially their battery packs, which are significantly more expensive than ICE vehicle components. For example, a battery replacement can range from 200,000 to 600,000 Baht or more, depending on the model. In many cases, damage to a battery module necessitates the replacement of the entire unit, further driving up repair expenses. - Limited Repair Facilities:
There are currently fewer repair centres equipped to service EVs compared to those for ICE vehicles. This limited availability can result in longer wait times, higher labour charges, and the use of costly, specialised parts. - Advanced Technology:
Many EVs are fitted with sophisticated systems such as advanced driver-assistance systems (ADAS). Repairing or recalibrating these systems following a collision can add considerably to the insurer’s costs.
In summary, the combination of specialised labour, expensive components, limited repair infrastructure, and advanced technology makes EV repairs more costly for insurers than those for ICE vehicles. This has a knock-on effect on insurance premiums and the overall cost of ownership for consumers.
However, as EV technology matures and repair infrastructure expands, these costs are expected to decline, making EV adoption more appealing to consumers and aligning with the Thai government’s long-term goals for electric mobility.
