Machine learning transforms the used EV market

A company enables drivers to observe and compare the battery health of EVs

Spotted: Like your phone battery, electric vehicle (EV) batteries experience wear and tear over time. Factors such as temperature, age, charging, and driving habits will all influence their performance. Recurrent, a Seattle-based company, addresses the need for transparency on battery life by offering essential information about EV batteries to both shoppers and car dealerships. 

Through cutting-edge machine learning, Recurrent keeps tabs on an electric car’s battery health by analysing data from similar EVs in its system. With a growing user base, Recurrent crafts multiple types of battery reports to cater to different owner needs. 

Just as a petrol-powered car’s mileage and engine condition are crucial factors to prospective buyers, the state of the battery is essential when purchasing a used electric car. With Recurrent’s data, customers can see a car’s expected range before making a purchase. For existing drivers, they can continuously monitor their battery health, and receive helpful tips to prolong it. And for those looking to sell, Recurrent streamlines the process, also providing a Battery Adjusted Value so that car sellers with healthier batteries receive a higher – and fairer – price. 

In a series A funding round, the company raised $16 million (around €14.9 million), hoping to become the go-to source of EV battery data.  

Springwise has recently spotted other platforms centred around e-car batteries, from a smart trading platform for waste EV batteries, to a platform that helps EV companies take control of their supply chain.

Written By: Georgia King