UK data shows that by September 2022, there were 1 million licensed plug-in vehicles (EV) in the UK. This equated to 2.5% of all licensed road using vehicles, up from 1.6% at the end of September 2021[1]. Additionally, the UK government currently plans to prohibit the sale of new internal combustion engine (ICE) vehicles in 2030[2].
Opel Corsa-e Electric Car (Image: Opel.com)
What’s the issue?
- EVs provide significant advantages, with benefits including:
- Quieter engines reducing urban noise pollution.
- Emit less emissions, though debates rage if they are truly ‘green’ bearing in mind the associated costs of mineral extraction and battery recycling.
- Cheaper maintenance costs as simpler drive trains reduce opportunities for components to fail.
- Cheaper running costs as electricity rates allow a cheaper cost per mile in comparison to diesel and petrol vehicles. EVs becomes even more economical where homeowners have access to solar charging for their vehicle[3].
What are the risks?
Electric vehicles commonly rely on lithium ion batteries to generate electrical power. However, when damaged or improperly manufactured these batteries can fail. Failure can raise the surrounding temperature and subsequently become the source of thermal runaway resulting in catastrophic fire damage to the vehicle – potentially also spreading to surrounding infrastructure and buildings[4]. As a result, damaged battery packs may lead insurers to write off otherwise perfectly suitable vehicles.
Read more: Marsh
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