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Wednesday, 01 September 2021 16:00

Cox Automotive Mobility Takes Charge of EV Battery Lifecycle Services with Global Acquisition

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Cox Automotive Mobility on Sept. 1 announced a foundational investment for its new global EV battery service network with the acquisition of Spiers New Technologies (SNT), a leading service provider for EV battery lifecycle management.

As EVs take center stage, battery production, health and lifecycle management will become increasingly important and challenging for OEMs, dealers, fleet providers and consumers. 

 

The acquisition of Spiers New Technologies, which currently has operations in the U.S. and Europe (the Netherlands), will allow Cox Automotive Mobility to establish a comprehensive global offering of EV battery service capabilities to meet the needs of its customers across the U.S., UK and other continental European markets.

 

"Cox Automotive is the only company that's connected to every pillar of the automotive industry and every stage of a vehicle's life," said Steve Rowley, president of Cox Automotive. "As an innovator and thought leader for more than 75 years, we don't wait for things to change, we cause the change. Taking charge of the EV battery lifecycle and creating sustainable solutions for our planet is no exception."  

 

Investing and Innovating to Advance EV Market Growth 

 

Electric vehicles have a different service and support profile than combustion vehicles---everything from cost, valuation, residual calculations, servicing and salvage differ and create challenges for the automotive ecosystem. Comparing cost alone, with the EV battery pack making up about 30% to 40% of the cost of an EV today, it's a high-value asset that needs inspection, valuation and servicing. 

 

Cox Automotive Mobility has the passion, motivation, resources and expertise to set the industry standards for battery health and manage its lifecycle worldwide.

 

"Cox Automotive Mobility is committed to being the best battery health innovator and end-to-end solutions provider for the safe promotion and preservations of our electric future," said Lea Malloy, head of research & development, Cox Automotive Mobility. "Our early investments in the space and EV battery health patent were just the start. Now, we've gone a step further with the acquisition of Spiers New Technologies, the world's leading service provider of EV battery life cycle management."

 

While passenger EVs in the U.S. market are forecast to grow to 32.8 million (15% of total auto market) and 6.5 million in new-vehicle sales (35% of total new-vehicle sales) in 20301, Cox Automotive research shows...


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