For years, observers believe that consumers would be better off leasing EV batteries than buying them outright – because batteries are prone to deterioration, because new technologies will make old ones obsolete, because someday you might be able to upgrade a car’s battery you have a better one soon.
The thing is, the lease is rarely financially beneficial to the consumer unless they are really pressed for money at the time of purchase. Battery leasing is unlikely to be any different.
Vietnamese automaker VinFast is testing the waters with plans to sell electric cars while leasing their batteries, and the terms of the deal seem so skewed that I suspect VinFast’s business model is less about the supposed benefits to consumers than about sustaining battery control from start to finish. By offering a battery subscription, VinFast may say they’re trying to lower the barriers to EV ownership, but their real game seems to be in collecting the battery’s residual value.