Sponsored by
Thanks for reading EV Cents by Recurrent. Each edition brings you clear, data-driven insights from 1 billion miles of EV driving to help you better understand your car and the market.
Telo's co-founder thinks EVs don't have to lose value.
Most cars lose value every year they're on the road. Jason Marks thinks EVs don't have to.
Jason co-founded Telo, the startup building an electric pickup about the length of a two-door Mini Cooper. When Scott (from Recurrent) sat down with him in San Carlos, California, the conversation kept coming back to the battery and what it could mean for a truck's value years after it's sold.
"Vehicles are just, by default, considered a depreciating asset," Jason said. "I think that doesn't have to always be true."
His reasoning is that a battery built to come out can be swapped for a better one later. "If our battery's 20% better two years from now, maybe you can pop in a new battery, and now your vehicle's worth that upgrade."
Telo builds its own pack from thousands of small cylindrical cells. They're the same 2170 format used in some Teslas and Rivians. Marks pointed to one advantage of that design: with so many cells wired side by side, a single weak cell can be taken out of service without taking the pack down with it. "You'd be none the wiser," he said.
Telo plans two pack sizes. The smaller one (77 kWh) is close to a Hyundai IONIQ 5 Long Range. The larger one (106 kWh) is close to a Rivian R1T Standard Range. Moving from the smaller one to the larger one would mean replacing the whole pack. "I'm not going to guarantee it," Jason said of Telo battery swaps, "but it's definitely something we've considered." Telo is targeting deliveries in 2027.
The part of his argument that applies today is the idea that underpins it: the battery overwhelmingly determines what an EV is worth. It's the most expensive part and it degrades slowly over time.
Out of warranty, a replacement typically runs $5,000 to $16,000, depending on the pack and the automaker. A shopper comparing two cars of the same model can't visually inspect the battery, so a pack with documented health removes the biggest unknown in the deal.
The good news for EV owners is that batteries hold up. Even among the highest-mileage cars we track, most still have more than 85% of their original range after 175,000 miles.
The habits that protect the battery also protect its resale value. For daily driving, we recommend keeping the charge between roughly 20% at the low end and 80% at the high end, and limiting frequent DC fast charging, which adds heat. But charging to 100% before a road trip won't hurt the battery.
If you're thinking about selling, the battery is your best argument. Buyers pay more for a pack they can verify. A battery health report answers the question every shopper is quietly asking, with a number you can show them.
From the market
Some used EVs kept gaining value
In July, we reported that used EV prices rose about 5% from January to June. For a few models, the climb kept going.
From June to September:
The average listing price of a 2024 Hyundai IONIQ 6 rose 5.7%, from $25,702 to $27,165.
A 2020 Tesla Model Y rose 2.9%, to $26,363.
A 2023 Hyundai IONIQ 5 rose 2.3%, to $28,231.
Those figures come from Recurrent's analysis of dealer listings and cover models with at least 200 listings in a month.
The wider market has leveled off. According to Cox Automotive, the average used EV listed for $37,441 in August. That's about 1% below July and 8% above a year earlier.
If you own one of these models, demand for your car is holding up. It's a good time to know what yours is worth.
Ask Recurrent
Question: "Does my EV's battery warranty transfer when I sell it?"
In most cases, yes. Automaker battery warranties generally stay with the car, so the next owner usually gets whatever coverage is left.
Battery warranties commonly run 8 or 10 years and 100,000 miles. Many cover the pack if it loses more than roughly 25 to 30% of its capacity, though the threshold varies by automaker. Hyundai, Kia and Genesis, for example, have offered 10 years or 100,000 miles. Tesla has covered the Model 3 and Model Y for 8 years and 100,000 to 120,000 miles.
If you're selling, the battery coverage you have left is worth mentioning to buyers. Check your specific terms first, because the details can vary by brand, model and model year.
Sponsored by:
AI can do a lot, but most AI newsletters leave you wondering what’s actually worth trying.
That’s where The Shift comes in. They don’t just tell you “what’s new” in AI.
Every edition answers one question: What can you do with AI today that saves you time, money, or effort?
You’ll see real-world examples, step-by-step mini-guides, and instantly usable prompts under 5 minutes a day.
Plus free access to 3,000+ AI tools and 1000+ mega prompts so you can apply what you learn right away.
No hype, no wasted time, and no “just in case” news. If it’s in The Shift, it’s because it can make your work better today.
And right now, 3 subscribers win a free 1-year Claude Pro subscription. One click to enter.