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Electric vehicles have depreciated more than their ICE counterparts in the past year, but what are the EV models with the best resale value after five years?
Part of the problem is that the industry is handling secondhand EVs for the first time. While combustion-engine cars can be quickly valued via their age and mileage, there are no tests in widespread use that determine the quality of a battery.
Part of the problem is that the industry is handling secondhand EVs for the first time. While combustion-engine cars can be quickly valued via their age and mileage, there are no tests in widespread use that determine the quality of a battery.
Ev Battery Test: Startups are racing to develop tests for certifying the health and performance of used electric vehicle (EV) batteries, as buyers struggle to determine the value of secondhand EVs. Unlike traditional cars, the value of an EV depends largely on the battery's driving range and ability to hold a charge. Companies like Altelium and Aviloo have developed battery tests that can quickly determine battery health, facilitating used EV sales.
With petrol and diesel prices reaching Rs 100 per litre, more people are opting for EVs to save on vehicle expenses. However, there are other costs to consider, such as higher insurance premiums and the expensive replacement of EV batteries. Additionally, charging time and infrastructure remain significant challenges for EV owners.