Plug, the leading EV-exclusive wholesale auction platform, has launched Trade Desk to help dealers effectively price and manage EV trade-ins. The service is revolutionary in addressing the unique demands of the EV market, supporting successful sales surpassing $15 million since early 2024. Funded by a substantial $6.7 million seed round led by notable investors, Plug aims to enhance dealer engagement in the used EV space. By providing reliable data and high-quality inventory, Plug is paving the way for increased dealer profit in the growing EV sector.
"While online wholesale vehicle auctions are not new, Plug is the first to address the specific needs of EV transactions," stated Burak Cendek, partner at Autotech Ventures.
"Limited dealer engagement in the used EV market has hindered competition and residual values," explained Jimmy Douglas, Plug's founder, CEO, and former Tesla executive.
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