Batteries for EVs must not be leased, warns CAP
A number of companies are looking at the idea of leasing batteries to future EV owners to keep costs down but Martin Ward of CAP's monitoring team said that batteries must be owned by the car buyer.
He told the Sunderland International Automotive Conference: 'Otherwise you have a situation where you don't know who owns what? Also how do you insure it – you cannot insure something you do not own.
'If the vehicle is written off in an accident, what proportion of the insurance goes to who? There are so many ifs, buts and maybes about EVs at the moment but this is one area CAP feels strongly about.
'We have spoken to the British Vehicle and Leasing Association about this and they are in agreement. If you buy an electric vehicle the battery has to be part of it.'
Mr Ward also said that RVs for EVs at current prices will be very low, with vehiclrs only retaining about 23% of their value after three years. As prices come down, however, this will move closer to 50%.For more of the latest industry news, click here.