Residual value forecasting for EV batteries; should we refurbish, reuse, or recycle?
| Reference number | |
| Coordinator | Volvo Technology AB |
| Funding from Vinnova | SEK 327 000 |
| Project duration | August 2022 - December 2022 |
| Status | Completed |
| Venture | Accelerate Swedish partnership |
| End-of-project report | 2022-01701eng.pdf (pdf, 1737 kB) |
Important results from the project
There are significant opportunities to reuse retired electric vehicle (EV) batteries in new applications, but lifecycle decisions can be difficult to make. The value of data-based approaches to useful life and residual value forecasting will be quantified and demonstrated, showing how they can be used to planwhether torefurbish, reuse, or recycle batteries?
Expected long term effects
To provide insights into the value of reusing batteries, the project aims to developmodelingapproaches that accurately forecast the useful life of traction batteries in multiple applications including in-vehicle and reuse.Thevalue of retired EVbatteriesin multiple reusescenarioswill also be forecasted.
Approach and implementation
The project included three successful phases: (1) remaining useful life modeling, (2) residual value modeling, and (3) mapping the additional value created across the full battery lifecycle through better planning of reuse and refurbishment.