Battery well being certificates might play a major position in stimulating the UK’s used EV market, a survey commissioned by insurance coverage specialist AXA UK has discovered.
Of their analysis, AXA UK discovered that 63 per cent of UK motorists don’t plan to purchase an electrical automobile, with 37 per cent of that determine citing issues over battery lifespan as one of many most important causes. As well as, eight per cent of these questioned mentioned they’d plans to purchase a second-hand EV.
AXA UK believes that battery well being certificates might stimulate the used EV market by offering a measure for automobile worth that doesn’t at the moment exist. In response to AXA UK, this might have a constructive influence on insurance coverage premiums by making it simpler for insurers to precisely assess the worth of second-hand EVs in an identical approach that mileage is used for ICE autos.
From 1 April, new EVs priced over £40,000 will likely be topic to an annual automotive tax for 5 years at a price of £425, along with street tax being launched for all EVs at £195 per 12 months. Many EVs fall above the £40,000 value mark, so used EVs current a beautiful various for patrons trying to make the change to electrical. Nevertheless, issues over battery well being, vary points and automotive values stay prevalent.
The brand new analysis additionally exhibits that motorists don’t plan to purchase EVs as a result of they consider they’re too costly (61 per cent) and since there’s a lack of charging factors of their native space (36 per cent).
Alongside the analysis, AXA UK has printed a report titled ‘Sparking Change – the case for delivering EV battery well being certificates’, which highlights the advantages of standardised battery well being certificates in rising demand for used EVs and assuaging shopper issues.
The certificates would offer consistency in battery well being info for all makes and fashions of used EVs to present customers extra confidence within the longevity of the autos they’re shopping for.
The analysis additionally reveals there’s a lack of public consciousness across the used EV market, with practically 64 per cent of these questioned saying there may be not sufficient public info on easy methods to purchase a used electrical automobile.
Within the UK, new EVs and their batteries will need to have producer warranties of eight years or 100,000 miles however these are sometimes not handed on to subsequent house owners of the automobile. There’s at the moment no standardised methodology in place for the house owners of second-hand EVs to trace the automobile’s battery well being or efficiency.
In a press release, Marco Distefano, MD of AXA Retail, mentioned: “Battery well being certificates have the potential to spice up shopper confidence and drive demand to create a thriving second-hand EV market. It’s clear that motorists have issues across the lifespan and value of electrical autos and with out addressing these points there’s a danger that EV uptake will stay low.”
The federal government made a dedication to introduce battery well being certificates in its manifesto, however AXA UK mentioned this must be carried out as quickly as doable if the UK is to fulfill its EV targets.
The survey of 1501 members of the general public was carried out by Stack Information Technique.
