As a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
European electric car sales growth will be hit by zooming insurance costs and expiring subsidies, while news of an out-of-control MG EV might spook some would-be buyers.
Some insurers are getting nervous about the possible scale of liabilities. John Lewis Financial Services has paused insuring electric vehicles while its underwriter analyses risks and costs. “There won’t be a gentle tail-off in deliveries during the next months, but more of a brutal awakening in the final third of the year,” Schmidt said.Schmidt retains his forecast that the acceleration will resume, with Westen European sales hitting 2.7 million in 2025, and 9.2 million in 2030.
The reasons for the malfunction have not yet been established, and it might well be a problem that could have happened to any car, BEV or ICE.“Insurers are reacting to a combination of factors. This could include the rising cost of parts and the need for a skilled workforce to carry out repairs. With any new technology we need to ensure financial sustainability. We are keen to encourage repair around the battery rather than replacement,” Fry said in an interview.
“The most significant challenges originate from the high voltage battery. Although there is a relatively small number of BEVs in the market, there is an understandable but concerning lack of affordable or available repair solutions and post-accident diagnostics,” the report said. Some believe BEVs are more prone to fire risk than ICE ones, but the data is inconclusive. However, BEVS create special risks when they do catch fire. They can burn for days and often reignite when the fire seems to have been beaten. Fire-fighters are now trained that total immersion in a swimming pool-like structure may be the only way to be sure it’s out.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why & How Solar Production Will Accelerate Over The Next Few YearsNext 2 phases of solar growth. are solar costs drop below operating costs of fossil plants and costs drop below grid distribution costs.
Read more »
Dear Abby: My husband's son emotionally hurt him over paying a health insurance premiumDear Abby weighs in on a spouse seeing her husband’s son emotionally hurt him over health insurance.
Read more »
Newsom rejected an opportunity to stabilize home fire insurance market when he vetoed AB 2450Newsom chose poorly and went the negotiation route instead, leaving California homeowners on the hook and at risk when he had a strongly supported solution in front of him just a year ago.
Read more »
FTX used random numbers to generate the size of its insurance fundThe amount of money purportedly held in bankrupt crypto exchange FTX's insurance fund did not reflect reality, according to its co-founder Gary Wang.
Read more »
FTX used Python code to fake its insurance fund figure: Gary WangFormer FTX CTO Gary Wang said that FTX used random numbers to falsify the value of its supposedly $100 million insurance fund.
Read more »
Why home insurance markets are in crisis around the countryBreanne Deppisch is an energy and climate policy reporter at the Washington Examiner. A former national political reporter, she has closely covered campaigns, Congress, and the White House since 2016.
Read more »