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Cargo Ship Sinking Sparks $560M Loss For Ev Industry

Cargo Ship Sinking Sparks $560M Loss for EV Industry

On June 3, 2025, the Morning Midas, a cargo ship carrying 3,048 Chinese vehicles, including 750 electric vehicles (EVs) and hybrids, caught fire and sank 20 days later, costing the industry an estimated $560 million, according to the Anderson Economic…