Software startup Recurrent helps used EV buyers know how much life is left in a vehicle
Summary
"We help used EV buyers understand what theyre getting when it comes to vehicle range, and how that changes in different weather conditions and how that changes over time as the car ages," Scott Case, CEO of Recurrent, told CNBC. It can analyze a car over and over again, normalizing things like weather, driving and charging style in order to compare two similar vehicles and show which has a healthier battery, and consequently a higher value. Dealerships can also use Recurrent to show comparisons to buyers, potentially driving up the sales price for EVs with healthier batteries. "When we look at EVs, were thinking about this massive transition, which is sort of a once-in-a-lifetime opportunity, where youre seeing the entire global auto market shift from gas cars to EVs, and the bulk of that is going to happen the next decade," Paul Straub, co-founder and managing director of Wireframe Ventures, an investor in Recurrent, told CNBC. Recurrent now has about 20,000 drivers on its platform since it started last June, and Case says the company has tripled its revenue in the last year.