The Severe Risk of Battery Fires from EVs

Battery-related fires from EVs can require 45x the water needed for a gas-powered car to be extinguished.

Good morning, Nerders. It’s Monday, August 12th. In today’s newsletter, we cover:

  • The severe risk of battery fires, and what it means for the EV industry

  • Missing the market’s best days has been costly

  • OpenAI’s terrible week

TODAY’S STORY

Add battery-related fires to the list of challenges for widespread electric vehicle (EV) adoption.

EVs are less likely to catch fire than gas-powered vehicles, but when they do, the rechargeable lithium-ion battery gets hotter, and the fire takes longer to put out.

When first responders in Franklin, Tennessee, faced their first EV fire from a Nissan Leaf in September 2023, it required 45,000 gallons of water compared to the 500-1,000 gallons typically needed to put out the fire of a gas-powered vehicle.

When asked what they might do in a similar situation next time, they responded, “Let it burn.”

But letting the car burn isn’t always an option.

Lawmakers in Seoul, which has a higher population density than New York or Tokyo, are considering specialized fire extinguishers and moving EV charging stations out of underground parking lots.

DATA BYTES

  • If you missed the market’s 10 best days over the past 30 years, your returns would have been cut by more than 50%

  • In times of volatility, like last week, timing the market may seem tempting to avoid bear markets, but timing the market is impossible and may be a costly mistake

Disclaimer: This is not investment advice. Past performance does not guarantee future results.

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#SHORTS

OpenAI’s terrible week

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Thanks for reading,
Kieran & Justin Ryan