Understanding the Economics of Aged Traction Batteries: Market Value and Dynamics
Source abstract
Abstract
The growing demand and market penetration of electric vehicles (EVs) have led to an expansion in the size of the market for used EVs, accompanied by a continuous increase in the return rate of aging battery systems. Consequently, a second-hand market for aged battery systems, known as second-life batteries, is slowly emerging. Understanding this market is crucial for enabling a functioning circular economy for batteries. This paper analyzes the market mechanisms influencing price formation for used goods, drawing parallels to the largest second-hand market, the used car market, and applies them to the second-life battery market. By examining these mechanisms, insights are provided into the dynamics of the second-life battery market, facilitating the development of strategies to optimize resource utilization and sustainability in the EV industry. Finally, the second-life battery price index is introduced, increasing the transparency of prices for lithium-ion batteries and the circular economy.
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Research context
OpenAlex topics: Electric Vehicles and Infrastructure · Advanced Battery Technologies Research · Advanced battery technologies research
SciVX discovery tags are terminology-based. OpenAlex topics are source-provided classifications.
Affiliations
Chair of Production Engineering of E-Mobility Components, RWTH Aachen University, Bohr 12, 52074 Aachen, Germany
Funding
German Federal Ministry for Economic Affairs and Climate 445 Action
References (64)
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