AXA calls for standardised electric vehicle battery information
A new report from AXA UK has called for standardised information around electric vehicle battery health to reassure customers considering buying a used EV.
This comes after research commissioned by AXA UK and carried out by Stack Data found that 63% of second hand car buyers do not plan to go electric with their next purchase.
Price (61%) and charging infrastructure (36%) remain key concerns for drivers, but 37% of respondents also said they were not confident about the lifespan of an EV battery.
‘Sparking Change – the case for delivering EV battery health certificates’ highlights the benefits of standardised information across all makes and models of used EVs, with AXA UK believing greater confidence in batteries could stimulate the used EV market.
Furthermore, reliable information could also help insurers value used EVs more accurately, which could result in lower premiums.
Electric vehicle battery information
Marco Distefano, managing director at AXA Retail, said: “Battery health certificates have the potential to boost consumer confidence and drive demand to create a thriving second-hand EV market. It’s clear that motorists have concerns around both the lifespan and cost of electric vehicles and without addressing these issues there is a risk that EV uptake will remain low.
“We urge the government to urgently publish guidelines to support standardised battery health testing. Not only will this stimulate the used EV market, but it also has the potential to positively impact insurance premiums by providing a barometer for assessing the value of EVs in a similar way that mileage is used for vehicles with an engine.”
Under current laws, new EVs and their batteries must have manufacturer warranties of eight years or 100,000 miles but these are often not passed on to subsequent owners.
