Just did a quick eBay check. The cheapest 350hp ICE I could find was a rebuilt $3,000 Chevy engine. A new one is more like $6-8k. An equally powerful, brand new Siemens motor was $1,500.
This makes sense when you think about it though. An electric motor is basically just steel with a bunch of coiled wire with some control electronics. An ICE is hundreds of pounds of precision cast and machined metal. The cost driver in electric vehicles is not the motor, it’s the batteries.
It means the manufacturer is required to offer to buy it back. If the manufacturer resells it after fixing the issues, there must be paperwork attached and given to the next purchasers stating that it was a lemon.