The insurance industry is facing new challenges as the transportation of electric vehicles (EVs) by ships becomes more common, with fires linked to EVs onboard posing unique risks. Unlike traditional fuel car fires, those involving EVs present different dangers, prompting insurers to call for heightened safety measures and considerations from EV manufacturers like Mullen Automotive Inc. (NASDAQ: MULN).
This issue underscores the broader implications of the shift towards electric mobility, not just for the automotive and shipping industries, but also for insurance providers who must adapt to the evolving risk landscape. The increasing incidents of such fires could lead to higher insurance premiums for shipping companies and, ultimately, affect the cost of transporting EVs globally.
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