Consultancy Report Battery Cycle

.docx
School
Yes College **We aren't endorsed by this school
Course
A EN MISC
Subject
Business
Date
Nov 17, 2023
Pages
16
Uploaded by sipet on coursehero.com
MI6228 [A] - Analytics Live Battery Cycle - Group B A Study on the Arrival of Second-Life Electric Vehicle Batteries into the UK Market Submitted by: Azad Girijapriyan - 22251733 Neha Gupta - 22251581 Shaun Vivian Dsouza - 22250255 Victoria Oluwaseun Ogunnusi - 22251163 Battery Cycle 21 st May, 2023 1 Maynooth University School of Business
Table of Contents Executive Summary......................................................................3 Introduction.......................................................................... ....... 4 Analysis........................................................................... .......... 5 Findings ...................................................................................11 Recommendations .............................................. ................................ 12 Conclusion................................................................................14 References................................................................................ 15 2
Executive Summary This executive summary provides an overview of a research done to assess the arrival of used electric vehicle (EV) batteries in the UK market. The study aimed to explore industry trends, factors influencing the growth of second-life EV batteries, and the anticipated opportunities and challenges associated with the increasing market for used EVs in the UK. The study addressed several key questions, including the total number of electric vehicles in the UK, the current number of electric vehicles in the market by geography, types of EV batteries available, average age of electric vehicle batteries, the number of electric vehicle batteries available for second- life use based on region, the total capacity of batteries available for second-life use in the UK market, and the number of raw materials available for second-life use and recycling. To conduct the analysis, a methodology was employed that involved examining electric vehicle market patterns, battery technological advancements, and government policies. Secondary sources such as industry reports, research papers, and government publications were utilized, along with data obtained from the UK government's vehicle registration database. Forecasting approaches, including regression analysis and trend extrapolation, were employed to estimate the arrival of used EV batteries in the UK, while acknowledging the inherent risks and assumptions associated with forecasting based on existing market patterns. The findings of the study revealed a promising market outlook for the UK second-hand EV industry. The forecast projected a significant increase in the UK second-hand EV market, driven by factors such as increased EV usage, government incentives, and the demand for sustainable mobility options. The regulatory environment in the UK, including cash incentives, tax breaks, and charging infrastructure development, was found to support the growth of the used EV industry. Technological advancements in battery technology and recycling methods were identified as key factors contributing to the feasibility and attractiveness of used EVs, leading to longer battery life spans and reduced environmental impact. The study also highlighted the increasing demand for inexpensive EVs in the used automobile market, offering a cost-effective alternative for users to adopt sustainable transportation options. The expansion of charging infrastructure and the establishment of battery repurposing and recycling facilities were identified as crucial factors for the growth of the second-life EV market, with ongoing efforts to improve the charging network and promote environmentally responsible practices throughout the EV lifecycle. 3
Page1of 16
Uploaded by sipet on coursehero.com