A Mercedes-Benz (MBGYY) electric sedan caught on fire on August 1st in South Korea, which rapidly spread through an underground parking lot of an apartment complex which damaged almost 900 cars and 23 people suffered from smoke inhalation, Jin Yu Young of The New York Times reports. This caught the public’s attention across the country and has raised safety fears that could impede the government’s aggressive push toward electric vehicles. Additionally, K Car, a popular secondhand car sales platform, said listings by EV owners looking to sell their vehicles tripled since the fire. Publicly traded companies in the space include Hyundai (HYMTF) and BMW (BMWYY).
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