Cox Automotive Buys Battery Recycler to Cater to Used EV Market
- Ford, GM use Spiers to repair or repurpose old EV batteries
- Cox building tool to value EVs on battery health not mileage
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Cox Automotive, which operates used-car auctions and tracks car trade-in values, bought a battery recycling startup called Spiers New Technologies as it seeks to cash in on growing electric car sales.
Cox, which owns car-shopping sites Kelley Blue Book and Autotrader, didn’t disclose how much it paid for Spiers. The Oklahoma City-based startup helps automakers repair, replace, or recycle EV batteries when consumers bring them in to dealerships for service. It works with most carmakers, including General Motors Co., Ford Motor Co., Stellantis NV, Toyota Motor Co. and Nissan Motor Corp., according to founder Dirk Spiers. It doesn’t work with Tesla Inc.