South Korea to hold emergency meeting after EV fires raise safety concerns

South Korea's environment ministry said on Thursday it plans to hold an emergency meeting next week to discuss fires involving electric vehicles (EVs), including a blaze that caused extensive damage, and draw up measures to prevent such incidents.

The ministry said the land and industry ministries will join Monday's meeting as well as other state bodies, such as the National Fire Agency, adding that the government planned to announce comprehensive measures regarding EV fires soon.

The move comes as analysts warn that authorities and the EV industry need to find ways to allay public worries on safety in a sector already suffering a slowdown in sales. Yonhap news agency said the government would unveil the new measures early next month.

Separately, the Chosun Ilbo newspaper cited an unnamed transport ministry official as saying South Korea planned to require EV makers to disclose the brand of batteries in cars.

Automakers in South Korea currently need to provide certain information about vehicles, such as fuel efficiency, but only limited details on batteries and do not have to name the manufacturers, the newspaper said. The transport ministry declined to give an immediate comment on the report.

Last week, a Mercedes-Benz electric sedan with batteries made by Chinese company Farasis Energy caught fire in the underground garage of an apartment in the South Korean city of Incheon, according to media reports.

The blaze took more than eight hours to extinguish and damaged about 140 cars and 23 people were hospitalised due to smoke inhalation, Yonhap reported.

Mercedes-Benz Korea said in a statement it took the incident very seriously and planned to cooperate with authorities to determine the cause. Farasis did not immediately respond to a request for comment.

The Seoul Metropolitan Fire & Disaster Headquarters in a report published in February said 1,399 fires occurred in underground parking lots in South Korea between 2013 and 2022 with 43.7 per cent attributed to vehicles. It said electrical sources accounted for 53 per cent of car fires in underground garages.

"A series of EV fires occurring in underground parking lots have been linked to growing consumer distrust of EVs, which could prolong the current EV downturn," said Esther Yim, an analyst at Samsung Securities, calling on the industry to come up with measures to reassure consumers.

Last month, Hyundai Motor said it would expand hybrid line-ups as demand for EVs eases globally. Meanwhile, battery maker LG Energy Solution, whose customers include Tesla, General Motors and Hyundai Motor among others, cut its annual sales target on a slowdown in global EV demand.

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