Seattle-based Startup Recurrent to offer EV battery health reports
Following footsteps of vehicle-history reports provider Carfax Incorporated, a Seattle-based startup called Recurrent is planning to launch a commercial web-based service to supply reports to individuals and businesses on EV battery health.
Carfax Inc., headquartered in Centreville, VA., is involved in supplying vehicle history reports to individuals and businesses on used passenger cars and light trucks across the United States and Canada. In simple words, Carfax vehicle-history reports expose any hidden defects or faults in second-hand vehicles, such as damage caused by crashes. Recurrent has plans to provide a similar service about health of EV batteries.
Revealing plans to launch the new service, Recurrent Chief Executive Officer (CEO) Scott Case said that the whole story of EVs revolves around the battery. He stressed that replacing a used car’s battery could cost as much as the vehicle itself. Thus, having reliable information about the battery of a used EV is really crucial.
Speaking on the topic, Mr. Case said, “When the battery goes bad, that’s the whole thing. Replacing it in a used car can cost as much as the vehicle itself. If the battery’s no good, you basically bought a brick. Battery health is the new odometer for electric vehicles, and we're bringing transparency to it.”
The new service could be launched as soon as this week to offer third-party reports of condition as well as expected lifespan of EV batteries. To offer the service, the startup will rely on EV drivers, who will provide data from their EVs to be analyzed by a predictive algorithm.
As of July this year, the startup was in a position to support the Tesla Model S, Model X, and Model 3; the Nissan Leaf EVs (with model years of 2016 and later); the BMW i3 (with model year of 2017 and later); the BMW i8; the BMW 5 Series and BMW 3 Series plug-in hybrids; the Ford Fusion Energi (with model year of 2019 and later); the Chevrolet Volt, Bolt EV, and Spark EV; the Volkswagen e-Golf; the Jaguar I-Pace; and the Audi E-Tron and A3 E-Tron.
Recurrent has recently completed a $3.5 million seed funding round, which is expected to provide a much needed monetary support to the new web-based service. If everything goes as planned, the Seattle-based startup will be the first company to generate independent reports on performance of used EV batteries. Carfax, Carchex and Autochex are already providing similar services, but for fossil fuel-powered vehicles.
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