South Korean Electric Vehicle Market Hit by Fire Incident and Response Measures

TapTechNews August 14th news, recently the South Korean electric vehicle market has suffered a heavy setback, due to a Mercedes-Benz EQE electric vehicle catching fire in the underground garage, which has raised public concerns about the safety of electric vehicles, and then led to the spread of the so-called 'electric vehicle panic' mood.

TapTechNews noticed that to deal with this situation, the South Korean government quickly responded and held an emergency meeting to discuss the safety of electric vehicles. The South Korean government proposed at the emergency meeting to require electric vehicle enterprises to disclose the information of battery suppliers.

At the same time, car enterprises have also taken active measures and launched a significant price reduction promotion campaign to stimulate consumer demand.

According to Getcha, many foreign brand car dealers plan to offer about 30% discount of the retail price to new car buyers, and about 30 foreign brand cars will offer at least 20% discount, among which the proportion of electric vehicle models is as high as 73%.

Brands such as Volkswagen, Mercedes-Benz, BMW and Audi all plan to launch price reduction promotion measures this month. Audi will offer a discount of up to 29.5% for the e-tron series models, the discount range of BMW iX and i7 is also more than 12%, Mercedes-Benz EQE has a 10% discount, and the discount of Volkswagen ID.4 has also reached 23%.

A used car dealer said that usually, imported cars will offer a large discount at the end of the year, but it is really rare to see such a large price reduction in summer this time. He believes that this is closely related to the decline in consumer confidence caused by the fire of the Mercedes-Benz electric vehicle.