Electric Vehicle makers like OLA, Okinawa, and Pure EV have come under heat this past week as at least 4 electric two wheelers went up in flames. E-scooters and E-bikes have been unexpectedly catching fire on the streets of Pune, Vellore, and Tamil Nadu, causing not just panic but also deaths.
So what has been causing these vehicles to flare up?
As EV makers continue to investigate these incidents, several reports point towards the lithium-ion (Li-ion) batteries as the culprit. These make up almost all electronic products today– including electric vehicles.
Despite the immense utility of this battery, it has been known to pose significant fire risks especially in extremely high temperatures. Just take the case of the Samsung Note 7 smartphones that caught fire in 2016, leading to them being banned by almost every airline.
But what can EV makers do?
Industry experts have pointed out that the root cause of these accidents could be manufacturing defects, external damage, or system failures, which may need more research and development to be rectified.
In the meantime, victims of these tragic fires can get some degree of compensation through Product Liability Insurance.
This policy essentially helps companies pay damages in the event of death, bodily injury, illness, or property damage caused to a consumer due to the company’s products.
If the accident culminates in a lawsuit against the company, a Product Liability policy can cover legal expenses as well. With the help of this insurance, businesses can cover any public harm arising out of their defective products.