The battery test race to work out what used EVs are really worth

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A race is on to certify battery health and performance in used electric vehicles, with a clutch of startups scrambling to help buyers figure out how much a secondhand EV is really worth.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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23 Oct 2023

With traditional combustion-engine cars, mileage and years racked up can quickly tell prospective buyers how much they should fork out. That formula does not work with EVs — whose value depends largely on their battery's driving range and ability to hold a charge.

Until recently, there was no way to measure battery health, hampering used EV sales. But that is changing as companies rush to scale up EV battery tests — some of which take just minutes.

One of them is Altelium, a UK startup that has a developed an EV battery state-of-health test and certificate launching this year in more than 7,000 U.S. car dealers and over 5,000 UK dealers through dealer service providers including Assurant and GardX.

«If the second-hand car market doesn't work properly, the new car market doesn't work properly and the electric transition won't happen,» said Alex Johns, business