Hertz CEO Stephen Scherr noted that the costs of repairs of an electric vehicle are also much higher. And Hertz's step back from EV sales indicate a broader problem for the EV industry.
Drivers also tend to crash somewhat more when switching to gas-powered vehicles, too, but the increase is more pronounced with EVs. The frequency of insurance claims rises by about 14.3% while the severity of claims, or the amount that has to be paid out, increases by 14.5%, according to the data.
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