Today: Apr 23, 2024

Bringing transparency to the used EV market: Startup Stories electrify!

3 months ago

TLDR:

  • Startup EVident Battery aims to bring transparency to the used electric vehicle (EV) market by developing comprehensive inspection technology for EV battery packs.
  • The technology uses vibration analysis, machine learning, and robotic mobility to assess the health and remaining useful life of battery packs, improving transparency for buyers and sellers.

EVident Battery, a startup founded by Jinqiang Ning and Wenbo Xiang, is tackling the challenges of buying and selling used electric vehicles (EVs) by developing comprehensive inspection technology for EV battery packs. The technology uses vibration analysis, machine learning, and robotic mobility to assess the health conditions of battery packs and estimate their remaining useful life and financial value. This aims to improve transparency in the used EV market by providing fast and cost-effective ways to determine the health and financial value of EVs.

Currently, the EV inspection market primarily focuses on battery cell measurements, neglecting the importance of a battery pack as a critical component for EV safety and performance. EVident Battery’s technology offers a more holistic and thorough inspection process, addressing the significant financial and safety risks faced by stakeholders in the used EV market, such as EV dealerships, auto service/repair shops, car fleet managements, and individual owners.

The founders, Ning and Xiang, came up with the idea for the startup during a discussion about the challenges of buying and selling used EVs. They recognized the opportunity to tackle inadequate battery service and inspection in the market and teamed up to develop a solution. Leveraging their engineering skills and machine learning knowledge, they conducted extensive research to create their comprehensive inspection technology.

Yale School of Management has been a valuable resource for EVident Battery. The startup has leveraged mentorships and networks from programs like the Yale SOM Program on Entrepreneurship, the Tsai Center for Innovative Thinking at Yale, the Yale Center for Business and the Environment, and the Yale Center for Innovation and Design. They have also expanded their network through their involvement with the New Haven-based ClimateHaven incubator, which has introduced them to investors and industrial experts.

EVident Battery has already achieved several milestones, including building two versions of their prototype, filing their provisional intellectual property and trademark, initiating an angel investment round of fundraising, and finalizing negotiations with several venture capitalists and local investors.