Sunday, August 06, 2023

Will Insurance Costs Derail The EV Revolution? | ZeroHedge

Will Insurance Costs Derail The EV Revolution? | ZeroHedge - Authored by Duggan Flanakin via RealClear Wire,
  • Four hundred ninety-eight electric vehicles (EVs) and over 3,200 other vehicles, including 350 Mercedes Benzes, were bound for Egypt on the Fremantle Highway when one or more of the EVs caught fire, costing at least one seaman his life and injuring several others...
To compute a total cost, the ecological devastation would also have to be factored in, along with the cost of rescue, firefighting, and salvage operations.
But all in all, this was a freak accident, a one-off. 
This stuff never happens. 
Right?
Actually, it does.
  • Just a year ago, the “Felicity Ace” sank as it was being towed from the site where 13 days earlier a fire had broken out on board. That ship, too, was transporting EVs and internal-combustion vehicles – including 15 Lamborghini Aventador LP 780-4 Ultimae supercars valued at half a million dollars apiece. Also lost were 1,117 Porches, 1,944 Audis, 561 Volkswagens, 189 Bentleys, and 70 other Lamborghinis.
  • And just a month ago, two firefighters died battling flames that broke out on another roll-on, roll-off (RORO) cargo ship docked at Port Newark in New Jersey. Firefighters arrived at the scene when just five to seven vehicles on the 10th floor of the ship were on fire, but the fire quickly spread to the 11th and 12th floors...

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