Altelium announced the first independent battery health test and warranty service for used electric vehicle batteries available on the forecourt in the UK and now available in North America.
The move marks a pivotal moment for the used battery electric vehicle (BEV) market and wider transition to clean transport.
The service from Altelium, available through a digital platform, is the result of work since 2018 to develop an independent way to predict the health and risk of batteries in order to provide extended warranties on them. As the traditional sign of product confidence, extended warranties help drive sales and the absence of them for used BEVs has been a brake on the market.
Worth an estimated $138.1 billion in the U.S., an efficient used car market is important to the economy, and also essential to accelerate the transition to electric transport. There are an estimated 2.13 million EVs on the road in the States and many are looking toward re-sale now, to enter the used car market. While car buyers may want to make their next purchase electric, the cost and confidence in the battery have held back sales.
Option to buy a second-hand BEV
The opportunity to buy a second-hand BEV will now be an option for the thousands of car buyers who felt the battery range or health couldn’t be trusted, or who wanted the peace of mind of an extended warranty.
The test is conducted via Altelium’s proprietary platform which combines data modelling from multiple sources including real world battery performance to assess the current and future health of the battery being tested. It shows the battery’s state of health or remaining capacity, and how that compares to expected degradation for the same type of vehicles.
Altelium’s warranty programmes, underwritten with ‘A’ rated insurers through the Lloyd’s of London market, cover battery degradation and electromechanical failure, and provide cover beyond the age or mileage limits of manufacturers warranties.
Ed Grimston, Chief Executive, Altelium, said: “Our independent battery health tests, certificates and warranties break down the barriers to buying BEVs. Battery anxiety inhibits the used EV market and this knocks on to the new EV market. By resolving this anxiety through an independent battery health test and certificate, combined with the peace of mind extended warranties give, we have unblocked this inhibitor to the EV transition.”
Dave Allmark, Director of Business at GardX which signed a deal to offer the Altelium battery health tests, certificates and warranties service through its EVerity innovation programme for dealers said: “Everybody benefits from these new products, the dealerships, the consumers, the environment. There have certainly been blocks in the road to electric adoption but now uncertainty about battery health and range for second-hand vehicles no longer needs to be one of them.”
Journalist Quentin Willson and founder of FairCharge, who, together with Robert Llewelyyn leads the campaign ‘Stop Burning Stuff’ to help end the myths and mistrust spread about electric vehicles has long been calling for standardised tests on electric vehicles.
He said, “The used EV market urgently needs a trusted battery state of health system to give buyers confidence. This is something governments should be looking at right now as the demand for used electric cars increases. A standardised, harmonised, battery test for all used EVs with an official certificate, would give consumers enormous confidence and help stimulate the used EV market.
“I know of Altelium’s work in this sector and am really pleased that they have already created a system with tests, certificates and warranties for EV batteries. FairCharge and I support everything that Altelium is doing in this space to help increase consumer awareness and confidence in electric cars and vans.”
