Mexican Media Brands
German Insurer to Cover Battery Performance
German insurance giant Munich Re Group is launching a service that will cover battery performance, eventually including those in electric vehicles.
Share
German insurance giant Munich Re Group is launching a service that will cover battery performance, eventually including those in electric vehicles.
The program initially will target large stationary applications, such as grid stability systems. Munich Re says the coverage will help reduce risks and make it easier to obtain project financing.
Insurance for electric vehicle batteries will be added in the second phase. The program promises to alleviate concerns about high costs for replacement batteries, but the company provided no details about how or when the coverage would be available.
The first customer for the stationary coverage is ESS Inc., an Oregon-based batterymaker that supplies modules for solar parks. Munich Re claims the plan is the first to cover long-term battery performance. The company also provides performance insurance for wind parks and fuel cell systems.
RELATED CONTENT
-
on lots of electric trucks. . .Grand Highlander. . .atomically analyzing additive. . .geometric designs. . .Dodge Hornet. . .
EVs slowdown. . .Ram’s latest in electricity. . .the Grand Highlander is. . .additive at the atomic level. . .advanced—and retro—designs. . .the Dodge Hornet. . .Rimac in reverse. . .
-
Choosing the Right Fasteners for Automotive
PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)
-
On Electric Pickups, Flying Taxis, and Auto Industry Transformation
Ford goes for vertical integration, DENSO and Honeywell take to the skies, how suppliers feel about their customers, how vehicle customers feel about shopping, and insights from a software exec
