Nowadays, the implementation of smart charging concepts and management strategies with vehicle-to-everything (V2X) functionalities, is required to address the increasing number of battery electric buses (BEBs) in cities. However, the introduction of these new functionalities to the charging systems might affect the lifetime of the charging infrastructure. This has not been investigated yet, although it is an important aspect for the BEB operators. Therefore, this paper performs a detailed reliability assessment to study the impact of smart and bidirectional (V2X) charging on the lifetime of SiC-based high-power off-board charging infrastructure used for BEBs in a depot for overnight charging. In this paper, four different charging current profiles, generated by a smart charging algorithm, are considered. In addition, an electro-thermal model of the charging system is developed to accurately estimate the junction temperature of the switching devices when subjected to the applied charging current profiles. The thermal stress is converted into a number of cycles to failures and accumulated damage by means of a rainflow cycle counting algorithm, a lifetime model and Miner’s damage rule. Finally, a Monte Carlo analysis and a Weibull probability function fit are applied to obtain the system reliability. The results have demonstrated that smart charging strategies can improve the lifetime of the charging system by at least a factor of three compared to conventional uncoordinated charging. Moreover, an uncoordinated charging strategy fails to fulfill the lifetime requirements in the parts per million range, while bidirectional charging could even further enhance the lifetime with a factor of one and a half.