Battery well being certificates might play a big function 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 considerations over battery lifespan as one of many 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 present exist. In line with AXA UK, this might have a constructive impression on insurance coverage premiums by making it simpler for insurers to precisely assess the worth of second-hand EVs in the same approach that mileage is used for ICE automobiles.
From 1 April, new EVs priced over £40,000 might 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 worth mark, so used EVs current a pretty different for patrons seeking to make the swap to electrical. Nonetheless, considerations over battery well being, vary points and automotive values stay prevalent.
The brand new analysis additionally reveals 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 growing demand for used EVs and assuaging client considerations.
The certificates would offer consistency in battery well being info for all makes and fashions of used EVs to present shoppers extra confidence within the longevity of the automobiles 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 methods to purchase a used electrical automobile.
Within the UK, new EVs and their batteries should have producer warranties of eight years or 100,000 miles however these are sometimes not handed on to subsequent homeowners of the automobile. There’s at present no standardised methodology in place for the homeowners of second-hand EVs to trace the automobile’s battery well being or efficiency.
In an announcement, Marco Distefano, MD of AXA Retail, mentioned: “Battery well being certificates have the potential to spice up client confidence and drive demand to create a thriving second-hand EV market. It’s clear that motorists have considerations across the lifespan and value of electrical automobiles and with out addressing these points there’s a threat 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 needs to 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 performed by Stack Knowledge Technique.
