Electric vehicle (EV) sales continued to grow in 2024, with sales increasing 20 percent from 2023 and projections anticipating EVs comprising close to 25 percent of all passenger car sales by 2035 globally. Recurrent, an investment in Mercy Investment Services’ Environmental Solutions Fund, uses analytics to help people confidently purchase, drive and sell EVs – all accelerating EV adoption to benefit people and planet.
Odometers are not a leading indicator of EV performance or battery health; Recurrent analyzes the expected battery range for EVs, a key indicator of the vehicle’s longevity. Buyers, drivers and sellers use an OnStar or Tesla account to connect their car to Recurrent’s free software and view credible vehicle-specific data such as range, charging speed, winter performance and maintenance tips. Recurrent details the current max range, how it fluctuates in different conditions, and how it will change over three years. The data can help increase sellers’ resale values, with studies showing an increase of almost $1,400. Founded in 2020, Recurrent has more than 30,000 connected vehicles in all 50 states, including customers in dealerships, insurance providers and others in the automotive industry. Originally focused on used vehicles, Recurrent recently expanded to include new EVs.
For more than 10 years, Mercy Investment Services’ Environmental Solutions Fund has invested in innovative solutions to the climate crisis including clean tech, water sustainability, solar power and more. Learn more about our approach and investments.