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Navigating the Nuances of the Used EV Market: Insights and Innovations with Patrick Cresswell

By
Amelia Riddell
3 Feb
2025
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5 minutes
read
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5 minutes
read

TL;DR

Hosts Chris Sass and Niall Riddell speak with Patrick Cresswell from ClearWatt about the growing used EV market.

Key topics discussed:

·       Battery health transparency is vital for buying, selling, and valuing used EVs.

·       ClearWatt’s software offers accurate battery diagnostics to boost market confidence.

·       Standardising battery data is key to a fair and sustainable used EV ecosystem.

·       Importance of the resale market in EV adoption and sustainability.


In this podcast episode 25, the hosts Chris Sassand Niall Riddell from Paua, talk to Patrick Cresswell, Co-Founder and Managing Director at ClearWatt. They discuss the rapidly emerging used EV market and the essential role of battery health transparency in its growth.

As EVs become more mainstream, their success will increasingly depend on the strength of the second-hand market. Patrick explains that 80% of all vehicle transactions occur in the used market, making it crucial for EV adoption and for setting residual values that impact financing of new vehicles. However, one of the main barriers in buying and selling used EVs is the uncertainty around battery health—a key factor affecting performance, range, and resale value.

Patrick introduces ClearWatt, a pioneering platform designed to assess and report on EV battery condition. This software helps buyers and sellers better understand a vehicle’s true value by offering transparent, accurate diagnostics on battery performance and degradation. Patrick stresses that consumer confidence hinges on having trustworthy data about battery health, and that establishing consistent industry standards for measurement is critical for the market to mature.

The conversation also touches on the technical and regulatory challenges around standardising battery diagnostics.With so many EV models and battery chemistries on the market, creating a unified, accessible way to evaluate batteries is no small task. ClearWatt addresses this by providing software-based insights that can be applied across various vehicle types, reducing the barriers for both consumers and dealerships in the used EV space.

Patrick also highlights that as the number of used EVs increases, tools like ClearWatt will be instrumental in keeping the market transparent and fair. He also notes that battery health has broader implications, including total cost of ownership, long-term sustainability, and environmental impact. Poor battery condition can result in limited range, slower charging, and increased costs—all of which can discourageused EV buyers if not clearly understood in advance.

The episode makes clear that the future of EVs doesn't rest solely on new car sales; it depends equally on how we manage and maintain the resale market. ClearWatt not only provides diagnostic capabilities but also plays an educational role, helping to inform buyers, sellers, and even regulators about how to interpret battery health and value.

Whether you're a current EV owner, considering a used EV, or simply interested in the future of sustainable transport, this episode provides essential insight into a critical and often overlooked part of the EV ecosystem.

Click here for the full episode

 

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