Battery power has been around for a long time. The risks inherent in the production, storage, use and disposal of batteries are not new. However, the way we use batteries is rapidly evolving, which brings these risks into sharp focus.
However, despite the glow of opportunity, it is important that the safety risks posed by batteries are effectively managed. Battery power has been around for a long time. The risks inherent in the production, storage, use and disposal of batteries are not new.
Where the battery is damaged, it can overheat and catch fire without warning. Batteries should be checked regularly for any signs of damage and any damaged batteries should not be used. The incorrect disposal of batteries – for example, in household waste – can lead to batteries being punctured or crushed.
Increased use of lithium ion (Li-ion) batteries are creating risks and opportunities that must be managed accordingly. A record 6.6 million electric vehicles (EVs) were sold globally in 2021, double the number in 2020, bringing the total number of EVs on roads worldwide close to 16.5 million.
Legal regime The UK already has legislation in place dealing with fire and safety risks such as those posed by batteries. For example, the Health and Safety at Work etc Act 1974 (‘the 1974 Act’) requires employers to ensure the safety of their workers and others in so far as is reasonably practicable.
A holistic approach to reducing the risks associated with Li-ion battery manufacturing and storage can help manufacturers secure the insurance coverage required by their financing partners, better enable their growth, and confidently meet regulatory requirements and consumer demands.