KG Mobility has announced that it will provide compensation of up to 500 million won in the event of a fire caused by an electric vehicle battery, demonstrating its confidence in the safety of its electric cars.
The compensation program for electric vehicle batteries introduced by KGM comes as customer anxiety has increased due to recent battery fires involving some brands. This has negatively affected the perception of the relatively fire-safe Torres EVX and Korando EV, prompting KGM to implement an aggressive promotion to alleviate these concerns.
A KGM representative stated, “While we have not had a single instance of fire caused by our electric vehicle batteries, it is unfortunate that consumer concerns have arisen since the recent Incheon fire incident, seemingly affecting all brands. We decided to offer compensation (up to 500 million won) to reassure our customers about the excellent fire safety of the Torres EVX and Korando EV.”
KGM’s electric vehicle battery compensation program will reimburse customers for damages up to 500 million won in the event of a fire caused by battery overcharging during charging or spontaneous ignition of battery cells when parked. This program applies retroactively to customers who took delivery of the Torres EVX in October 2023 and the Korando EV in May 2024.
However, fires caused by unauthorized battery modifications, natural disasters, faulty chargers, failure to follow manufacturer maintenance instructions, or external events including vehicle collisions will not be covered by this compensation policy. (For further details, please refer to the KGM Battery Compensation Program notice attached.)
KGM’s confidence in the safety of its electric vehicle batteries extends beyond this. The maximum compensation of 500 million won available for battery fires is matched by the industry-leading warranty period for the Torres EVX and Korando EV: an unprecedented 10 years/1 million kilometers, which is a milestone that no other domestic company has attempted.
Meanwhile, the safety of the Torres EVX has already been validated following a fire incident last December. The fire was presumed to have started from a collision with a passenger vehicle in a rear-end accident on the riverside road in Busan, and even though the flame spread to the Torres EVX, causing total destruction, the battery installed in it suffered minimal damage from the strong external impact and high temperatures, and did not exhibit thermal runaway. The fire department extinguished the fire in just 26 minutes (two vehicles were involved).
Lee Sang-jin daedusj@autodiary.kr