ATLANTA (Jan. 24, 2023) – Trust matters when it comes to car buying in both wholesale and retail. To drive confidence and transparency in the new and used electric vehicle (EV) market and help optimize EV battery first life, Cox Automotive today announced the next phase of its pioneering approach to EV Battery Health scoring and diagnostics. The company will set the foundation for the industry standard in EV battery inspection and valuation with its VIN-specific battery grading system that is unlike any other solution available today. The pilot of Cox Automotive’s EV Battery Health mobile app and Bluetooth® dongle will launch at 10 Manheim locations across the U.S. – Pennsylvania, Southern California, San Francisco, Riverside, Nevada, Dallas, Phoenix, Seattle, Nashville and Portland.
“We take pride in our EV battery diagnostic tool and grading system, and the benefits it brings the secondary vehicle market as an independent third-party standard for EV battery health are unmatched in the industry,” said Lea Malloy, AVP of EV Battery Solutions, Cox Automotive Mobility. “The battery pack is the single most expensive part of an EV, accounting for 30-40% of the total cost of the vehicle. With the anticipated influx of used EVs entering the market, our battery health score will help create confidence and transparency at the point of sale.”
Providing transparent and accurate vehicle valuations is nothing new for Cox Automotive. Iconic brand Kelley Blue Book has equipped owners and buyers with trusted new car pricing and used retail values for nearly 100 years, and the Manheim Market Report, fueled by millions of transactions in the world’s largest wholesale automotive marketplace each year, continues to be the premier indicator of wholesale values. With more than 28 million used battery electric and plug-in hybrid vehicles scheduled to infiltrate the U.S. car parc by 2030, Cox Automotive’s leadership will power this electric marketplace.