The E-cosse Residual Value & Total Cost of Ownership forum stimulated thinking about how investments in electric and plug-in vehicles are influenced by the residual or resale value that can be achieved by an individual, fleet or leasing company. Presentations by commercial and technical experts, including Dukosi, discussed a number of factors contributing to EV depreciation and explored strategies to maximise electric vehicles residual value.
E-cosse, in conjuction with Transport Scotland and Urban Foresight is committed to accelerating the adoption of electric and plug-in vehicles in Scotland through its “Switched on Scotland” initiative. Dukosi was very pleased to join the forum as it shares the vision of establishing Scotland as an EV pioneer and support the widespread adoption of EVs globally.
The forum brought together commercial and technical experts from the worlds of vehicle manufacturers, leasing companies, academia and electric vehicle battery and energy management systems.The presenters reviewed the current state of the plug-in and electric vehicle market and discussed a variety of factors contributing to their depreciation and influencing individuals and fleets’ decisions to invest on them.
Several barriers were identified and the most common imposing a challenge for EVs and PHEVs’ TCO and depreciation are cost and public perception. Cost includes significant battery cost and degradation which affects EV depreciation. Public perception considers people not seeing them as desirable cars perhaps due to range anxiety.
There is plenty of good news in the industry however. There are currently technology advances in battery management systems that look at optimising the performance of batteries. These can maximise the battery lifetime and reduce TCO. For instance, as Dr Gordon Povey, Dukosi’s CEO explained, Dukosi’s EVoIC system can significantly enhance the resale value of batteries by storing the performance history of each battery cell and eliminating uncertainty.
Consumer awareness of current advances in energy management optimisation systems and their ability to decrease range anxiety is important to change the public’s perception. At the same time, there are desirable new models like the BMWi3 and the Nissan Leaf which influence public acceptance of electric cars.
Overall the workshop was very informative and educational about EV and PEVs residual value and TCO. Most notably, it brought together a variety of perspectives about recent developments on research, technology and government initiatives that work towards maximising electric vehicles value and accelerate individuals and fleets’ decisions to invest on them.