As the EV market heats up, Cox Automotive Mobility announced a new acquisition that will provide an EV battery service network for OEMs, dealers, and fleet providers. On today’s show, we’re pleased to welcome Joe George, President of Cox Automotive Mobility to tell us more about the acquisition and the impact it could have.
We felt this was the right next step for us to help enable the fleets of the future, says George. Cox Automotive made investments in and around the electric space with a new patent algorithm that helps them calculate future battery health.
When it comes to Spiers New Technologies, George says they are the leader. He says as they looked at the space, all roads lead to Spiers. They are the four Rs of battery services: repair, remanufacturing, refurbishing, and recycling.
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George says fleets have figured out that the cost of operation is less expensive with an EV. One of the things Cox Automotive is focused on is helping the market understand the health and condition of an electric vehicle. They want to be able to provide a market-clearing price in the wholesale world, as well as educate consumers in the retail world. EVs are more about electrons in and electrons out versus the traditional odometer.
In the EV space, George says batteries have a much lower carbon footprint in operation. They’re more efficient power transfers. He says the potential downside is an average EV may have 3 to 10 individual battery cells, but afterward, where do the battery cells go? George also says they plan to create a closed-loop system.
Fleets are about the total cost of operation. For us as consumers, it’s about products. George says Cox Automotive is uniquely positioning the automotive industry to help. He believes they can help electrify the entire value chain.
“We have a big opportunity to do what’s best for the planet too,” says George.
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