Cox Automotive Mobility has acquired electric vehicle (EV) battery provider Spiers New Technologies (SNT), as part of the company’s investment in its new Global EV Battery Service Network.
The acquisition will allow Cox Automotive to have greater control over the lifecycle of its EV vehicles and their individual parts.
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Martin Forbes, president of Cox Automotive International said the acquisition was a strategically important one, and that it would be an “integral part of our plans to significantly extend our capabilities in the mobility space… as well as reinforcing our long-term commitment to invest in sustainable technology.”
As EVs continue to gain popularity in the market, battery production, health and life cycle management will become more important to dealers. This is largely due to the fact that EVs have different needs when it comes to valuation, servicing and sourcing spare parts. An EV battery pack makes up about 30-40% of the vehicle’s total cost.
The new third-party battery health tool built by SNT and Cox Automotive Mobility is powered by SNT’s ALFRED battery decisioning platform, which is becoming the global industry standard for assessing battery health.
“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,” added Lea Malloy, head of research & development at Cox Automotive Mobility.
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By GlobalData“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 – from battery diagnostics and logistics management to remanufacturing and recycling services.”
“As a pioneer and leader in electric vehicle 4R servicing, we are proud of the revolutionary progress we have made, but this is only the beginning of the journey,” said Dirk Spiers, founder of Spiers New Technologies. “Leveraging our combined strengths with Cox Automotive in engineering, technology and data, we are creating significant value and opportunity for those embracing the electric future.”
The acquisition of Spiers New Technologies also complements the efforts of Co Automotive’s parent company, Cox Enterprises. Cox Enterprises has committed to achieving carbon and water neutrality by 2034, and zero waste to landfill by 2024.
