Axeon, Europe’s largest independent lithium-ion battery systems supplier, believes that vehicle fleet managers should welcome the opportunity to bring electric vehicles into use, and that some concerns around residual values have been exaggerated.
Axeon is at the forefront of automotive battery R&D and is focusing on the power density and efficiency of battery packs. Whilst there have been claims that electric vehicles may have little residual value at the end of their warranty period due to the high cost of battery replacement, in reality the batteries will retain around 80 percent of original capacity.
Although vehicle manufacturers are targeting a cycle life that will cover up to 20 percent of capacity, batteries will still deliver usable power below 80 percent charge capacity in applications such as shorter-range vehicles, grid load leveling and renewable energy systems.
The battery in an commercial electric vehicle with a 100-mile range that has covered 100,000 miles of out-of-town driving may well have got to the end of its stated life of 1,000 cycles, but the battery should still be able to deliver a range of about 80 miles. The same battery could therefore be removed and fitted into an urban, inner city delivery vehicle for example, which is driving shorter distances and returning to base every day to be recharged.
Axeon is working with Venson, one of the UK’s largest independent fleet solutions providers, in hosting an event on 28th April 2010 for fleet managers to provide an overview on electric vehicles, looking at issues including batteries, charging and running costs.
“We are in full support of research into residual values for electric vehicles”, said Lawrence Berns, Axeon CEO. “However, it is naïve to believe that automotive batteries will be worthless after their cycle life, as they will still retain around 80 percent of capacity and be very useful for a variety of applications.”
Samantha Roff, managing director for Venson Automotive Solutions added, “We are looking at various scenarios around electric vehicle ownership, particularly leasing options, which would help overcome the initially higher capital cost of these vehicles and likely see more of them taken on by fleet operators.”
ENDS
Further information:
Rebecca Trengove (Axeon)
+44 1382 400040
Tom Callow (Automotive PR)
+44 207 494 8050
About Axeon
Axeon is Europe’s foremost producer of Li-ion battery packs and systems for electric vehicles (EVs) and is currently the UK’s market leader in large commercial vehicle battery technology. Axeon’s automotive battery and charger systems are designed and manufactured to exacting automotive standards, drawing on many years of battery experience. Currently Axeon’s EV batteries have a range of up to 140 miles from a single charge and with stored capacity ranging from 5 kWh to 180 kWh.
Axeon’s Battery Management System is a market-leading technology for managing lithium-ion batteries, delivering safe, durable performance.
Axeon also designs and manufactures batteries and battery management systems for power tools, enabling new cordless tools that deliver more power with less weight; and mobile power, delivering energy for innovative new products.
Axeon is fully owned by AG Holding Ltd, which is backed by funds managed by Ironshield Capital Management LLP.
About Venson
Independent Venson Automotive Solutions based in Thames Ditton provides a diverse portfolio of fleet services - traditional company vehicle funding and fleet management to accident management, vehicle equip-for-service, workshop and body shop management – to companies and organisations within the public, private and emergency service sectors.
For further information contact:
Alison Bell
Venson Automotive Solutions
Tel: +44 20 8339 1469