| Thanks for reading Hyperdrive, Bloomberg's newsletter on the future of the auto world. Read today's featured story in full online here. A Mercedes-Benz electric vehicle that burst into flames in the South Korean city of Incheon has fueled public fear over the safety of battery-powered cars in recent months. The incident saw 23 people hospitalized for smoke inhalation and left more than 200 families homeless for weeks. Authorities said it took more than eight hours to extinguish the blaze, which was caused after an unplugged electric sedan exploded in an underground apartment carpark in July. Since then, there's been widespread anxiety over EVs, a phenomenon dubbed "EV phobia" by local media. Most residential buildings across the country have issued notices advising EV owners to be cautious when they charge their cars, while some have even banned EVs entirely from entering or parking. The public uproar prompted the government earlier this month to introduce a set of regulations aimed at easing concerns, including a requirement that automakers disclose the brand of battery used in their vehicles.  Burned-out vehicles after the fire in Incheon. YNA Although batteries are a critical component in electric cars and can pose serious safety risks if not properly manufactured or managed, automakers have so far kept the identity of their battery suppliers confidential, not just in Korea but around the globe. As an EV owner myself of about three years, I've never had the privilege of knowing any details about the battery that sits inside my car. This now feels both odd and unfair, given that batteries are one of the most crucial and expensive parts of the vehicle. Shouldn't consumers have the right to clear and transparent information before making any purchase, especially when it's closely tied to safety? Once the new regulations take effect (no date has been set and it could be months), consumers in Korea should be able to consider battery manufacturers when purchasing an EV. There's also still a lack of clarity around how much detail the government will require automakers to disclose, and whether EV owners like myself will be able to retrospectively learn the brand of the battery that powers our cars. The dramatic fire rattled the Korean public at a rather unfortunate time when EV sales growth – globally – is slowing. The broader negative sentiment toward EVs is also undermining the government's efforts here to roll out more eco-friendly cars and beef up charging infrastructure across the country. Before the incident, the nation's EV market had been growing rapidly, accounting for more than 9% of new car registrations last year, according to data from the transport ministry. But after the July incident, most automakers suffered from a decline in EV sales in August. With the investigation still underway and the cause of the Mercedes fire yet to be identified, some carmakers, including Hyundai, General Motors and Porsche have taken the matter into their own hands by voluntarily disclosing their battery suppliers and offering free safety inspections to EV owners. The government has also pledged to strengthen safety measures in parking lots and require more EV makers and battery charging operators to have adequate insurance cover. Whether those measures are enough to calm the unease around EVs is yet to be seen. As for me, I'm content to keep driving my EV. And the flip side of risk is opportunity. If South Korea pushes forward and ends up with effective and comprehensive regulations in place, it could be a chance for the country to build a more resilient environment for EVs in the future. — By Heesu Lee  VinFast. Photographer: Linh Pham/Bloomberg Vinfast's dream to become a major force in the global EV market just took another hit, with the Vietnamese upstart posting a wider quarterly loss. And while deliveries jumped 43%, that was to just 13,172. Chair Le Thi Thu Thuy said she expects further losses in coming quarters. That shouldn't faze billionaire founder Pham Nhat Vuong, who in June told Bloomberg he will continue to support the automaker until he runs out of money. | 
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