One of the United Kingdom’s leading insurance companies, AXA, is calling for standardized EV battery information. Their proposal could help resolve electric vehicle skepticism worldwide. What follows could apply equally to motorists in North America. Although we can’t promise that the statistics AXA quotes, would apply equally on this side of the Atlantic ocean.
Skepticism Standardized EV Battery Data Should Dispel
The information that Stack Data Strategy unearthed on behalf of AXA, makes startling reading:
- Two-thirds of motorists in the UK have no intention of purchasing an electric vehicle.
- More than a third of those skeptics say their main concern is battery lifespans.
- A mere 8% of those surveyed have plans to purchase a second-hand electric vehicle.
- Just 10% of UK motorists own an EV outright. There are no standards for used vehicle batteries.
AXA believes that standardized EV battery information, will serve as a useful barometer for the value of an electric vehicle. The national insurer has published these findings in a new report that it titles ‘Sparking Change”.
This document highlights the benefits of consistent battery data, covering all makes and models of second-hand electric vehicles. The goal is to give purchasers of these vehicles more confidence in their remaining battery lifespan.
Stimulating the UK Used Electric Vehicle Market
AXA believes that credible battery health certificates, could help stimulate the lagging used EV market in two ways:
- Provide a measure for car value that does not currently exist.
- Enable insurers to accurately assess the value of used EV’s.
The research by Stack Data Strategy also showcases public ignorance regarding the used EV market. An alarming two thirds of respondents believed that ‘there isn’t enough public information on how to buy a used electric vehicle’.
AXA concludes its report by urging the United Kingdom government to issue guidelines for standardized EV battery information. They hope that these norms will dispel confusion, in a similar way that mileage is used for vehicles with gasoline engines.
More Information
Used EV Batteries Tackle Domestic Power Cuts
Caring for EV Batteries Improves Resale Value
