The Severe Risk of Battery Fires from EVs

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

@boringbusinesskieran

OpenAI’s terrible week // Make sure to follow me to keep up with the latest business stories and trends #openai #samaltman #business #startup #foryou

Watch on: TikTok, YouTube, Instagram

PREVIOUS STORIES

• Bike Theft — Expensive bikes have caught the attention of organized crime rings.

• Select U.S. grocery stores are selling bullets — Milk, eggs, and bullets for sale in some grocery stores + how election cycles impact gun sales

• Fast Food Robots — The next platform shift in fast-food restaurants could be automation.

• Lamborghini’s Hybrid Models — How Lamborghini’s hybrid strategy helped shield them from volatility in the EV market.

• McDonald’s $5 Meal Deal — Fast food chains are offering new deals to attract budget-strapped diners.

To read the web version of previous stories, click here

If you have any comments or feedback, just respond to this email.

Thanks for reading,
Kieran & Justin Ryan