Cracking the Code: Evaluating the True Value of Used Electric Vehicles
Startups are racing to develop and implement battery health and performance tests for used electric vehicles (EVs) to help buyers accurately assess the value of secondhand EVs. Unlike traditional combustion-engine cars, the value of EVs depends largely on the battery's driving range and ability to hold a charge. Companies like Altelium and Aviloo have developed battery tests that can quickly measure battery health, enabling more transparent and reliable transactions in the used EV market. The lack of visibility and concerns about battery life have contributed to lower used EV prices compared to fossil-fuel models. Properly valuing used EVs is crucial as the market is expected to see a significant influx of vehicles in the coming years.