The global electric vehicle (EV) market is facing a severe depreciation crisis, with resale values plummeting significantly faster than those of traditional gas-powered vehicles. Recent data indicates that EVs can lose up to 60% of their value within three to five years, compared to less than half for gas cars. This issue has been highlighted by the collapse of BluSmart, an all-electric ride-hailing service in India, which flooded the market with low-priced vehicles after financial troubles. Fleet operators, such as Hertz, have reported massive losses due to the declining value of their EV investments. The uncertainty surrounding battery lifespan and performance contributes to this depreciation, as potential buyers are wary of the long-term viability of used EVs. However, emerging battery-as-a-service models may provide a pathway to stabilize the market by offering predictable costs and values. As consumer confidence in battery technology improves, resale prices may begin to recover.