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Three organisations have teamed up to help produce more accurate battery life data for electric vehicles with the aim of reducing the uncertainty in residual values of plug-in cars.
The group claims that a major barrier to increased electric vehicle investment has been the doubt over lithium-ion battery life and vehicle resale potential.
North-East-based Route Monkey is working with Teeside University and Urban Foresight to help de-risk fleet EV investment by easing industry concerns. The trio aims to develop software that will be accessible by fleets, insurers and leasing firms.
Colin Ferguson, Route Monkey's chief executive officer, claimed that leasing finance costs are currently calculated using a worst-case scenario combination of EV battery performance and degradation, which is based on uncertainty and increases the cost and risk of owning an EV.
"This project aims to establish a protocol for the sharing of vehicle and battery manufacturers' battery data to allow for optimisation of lifetime predictions," said Ferguson.
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