South Korea’s environment ministry has announced plans to hold an emergency meeting to address concerns regarding fires involving electric vehicles (EVs). The meeting, scheduled for next week, will involve multiple government ministries, including the land and industry ministries, as well as the National Fire Agency. The government aims to develop comprehensive measures to prevent EV fires and restore public confidence in the sector, which has already experienced a sales slowdown. The new measures are expected to be unveiled early next month.
One proposal being considered is the requirement for EV makers to disclose the brand of batteries used in their vehicles. Currently, automakers in South Korea need to provide some information about their vehicles, such as fuel efficiency, but only limited details on the batteries. The transport ministry has not commented on this proposal thus far.
The need for stricter regulations and increased transparency regarding EV batteries comes after a recent incident in which a Mercedes-Benz electric sedan, equipped with batteries manufactured by Chinese company Farasis Energy, caught fire in an underground garage in Incheon. The blaze lasted for over eight hours and resulted in extensive damage to numerous vehicles. 23 people were also hospitalized due to smoke inhalation. Mercedes-Benz Korea has expressed its seriousness about the incident and plans to cooperate with authorities in determining the cause. Farasis Energy has not yet commented on the matter.
The issue of EV fires is not unique to South Korea. A report from the Seoul Metropolitan Fire & Disaster Headquarters revealed that between 2013 and 2022, 1,399 fires occurred in underground parking lots in the country, with 43.7% of them being attributed to vehicles. Electrical sources accounted for 53% of car fires in underground garages. These incidents have contributed to growing consumer distrust of EVs, which could further prolong the current downturn in EV sales.
Experts, such as Esther Yim, an analyst at Samsung Securities, emphasize the importance of the EV industry taking proactive measures to reassure consumers. This includes addressing concerns related to EV fires and implementing strategies to restore public trust. In response to the global easing of demand for EVs, Hyundai Motor has announced plans to expand its hybrid lineup, providing consumers with alternatives to fully electric vehicles.
Additionally, LG Energy Solution, a prominent battery maker whose clients include Tesla, General Motors, and Hyundai Motor, has lowered its annual sales target due to the slowdown in global EV demand. This further highlights how the EV industry is facing challenges that extend beyond safety concerns alone.
In conclusion, the South Korean government’s plan to address EV fires through an emergency meeting demonstrates the seriousness of the issue. By developing comprehensive measures and increasing transparency in battery information, authorities aim to alleviate public worries and revitalize the EV market. However, it is crucial for the industry as a whole to prioritize consumer safety and work towards regaining trust.
