EV fires might spark new industry rules in South Korea
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An electric vehicle blaze in South Korea is sparking questions as well as talk about new rules for the industry.
A major fire on Aug. 1 that took eight hours to put out – and destroyed or damaged about 140 cars – was found to have been caused by an unplugged Mercedes-Benz EV (OTCPK:MBGYY) that was parked below a residential building.
In fact, over 600 such fires have occurred in underground parking lots in the country over the past decade, according to the Seoul Metropolitan Fire & Disaster Headquarters.
South Korean officials are now weighing whether to require electric vehicle makers to disclose their battery brands at a time when EV sales growth is slowing globally.
Discussions have been held with Mercedes-Benz (OTCPK:MBGYY), as well as Hyundai Motor (OTCPK:HYMTF) and Volkswagen (OTCPK:VWAGY).