Cox Automotive Mobility, a division of the world’s largest automotive services company, has announced that it has acquired Spiers New Technologies, a provider of EV battery life cycle management for an undisclosed sum, September 01, 2021.
Spiers New Technologies will form part of Cox Automotive’s plan to provide end-to-end service provision for every stage of the EV lifecycle, including vehicle battery end-of-life repurposing.
With operations in North America (Oklahoma City) and Europe (the Netherlands), Spiers New Technologies offers OEMs the opportunity to optimize battery pack inventory while maximizing value through what it calls the ‘4R’ services of Repair, Remanufacturing, Refurbishing and Repurposing.
Martin Forbes, president of Cox Automotive International, commenting on the company’s latest purchase, said:
“This is another strategically important acquisition for us, both as an integral part of our plans to significantly extend our capabilities in the mobility space, and as well as reinforcing our long-term commitment to invest in sustainable technology.”
Forbes said that as electric vehicles (EVs) became more entrenched in the fleet and consumer sectors, and with batteries costing up to 40% of the overall cost of a vehicle, their thru life management created additional challenges for OEMs, dealers and fleet providers.
Prior to the acquisition, Cox Automotive Mobility and Spiers New Technologies had already been working closely on a third-party battery health diagnostic tool which is being used to assess battery health and overcome potential buyer reticence. For example, EV battery health reports now form part of Manheim condition reports at select auction locations to provide greater vehicle transparency.
“As a pioneer and leader in electric vehicle 4R servicing, we are proud of the revolutionary progress we have made, but this is only the beginning of the journey,” added Dirk Spiers, founder of Spiers New Technologies. “Leveraging our combined strengths with Cox Automotive in engineering, technology and data, we are creating significant value and opportunity for those embracing the electric future.”
Spiers New Technologies provide:
- qualitative analysis and safety screening of battery packs that have been removed from their original vehicle;
- logistics management of vehicle battery packs and modules, including climate-controlled storage, dealer network management and end-of-life recycling preparation;
- Repair and refurbishment of vehicle battery packs for redeployment in vehicles;
- and the remanufacturing of vehicle battery packs and modules for second life use in a variety of non-vehicle applications
President of Cox Automotive, Steve Rowley, added:
“Cox Automotive is the only company that’s connected to every pillar of the automotive industry and every stage of a vehicle’s life. As an innovator and thought leader for more than 75 years, we don’t wait for things to change, we cause the change. Taking charge of the EV battery life cycle and creating sustainable solutions for our planet is no exception.”
The purchase of Spiers New Technologies is the fourth Cox Automotive acquisition this year, following Codeweavers in March, pkwNOW in May, and Fleetmaster in July 2021.
Originally posted on Global Fleet Management
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