EVs face their fair share of challenges and concerns.

Concerns about battery fires in EVs have garnered significant attention from the media and the public. These fears have been fuelled by high-profile incidents, such as the car carrier fire off the Western Australia coast a few months ago and a car fire at Sydney airport in September. Media coverage has spiked, raising legitimate concerns about the safety of lithium-ion batteries commonly used in EVs.

Lithium-ion batteries, while compact and efficient, contain a vast amount of energy and undergo chemical-to-electrical energy conversions. However, faults or short circuits, often resulting from damage or excessive heat, can lead to a phenomenon known as thermal runaway. This can trigger a highly toxic, large-scale fire, challenging conventional extinguishing methods. Firefighters are now being trained to manage such incidents, and extensive research is being conducted to enhance safety measures.

Although EV fires are infrequent, their substantial coverage in the media has perpetuated a sense of fear and misinformation within the community. It is imperative to encourage a rational and data-driven approach to address these concerns, ensuring a balanced perspective on EV safety.

Moreover, apprehensions about battery longevity contribute to the skepticism surrounding used EVs. Buyers often hesitate to invest in used EVs, considering the battery’s health and performance over time.

To bolster the resale market for EVs, stakeholders in the industry are exploring potential solutions. One approach could involve policy adjustments, such as offering exemptions on Stamp Duty and three-year registration fees for purchasing used EVs. This could incentivise buyers and promote a thriving used EV market.