South Korean startup Lee Mobility Company announced this week it received a seed round investment from local early-stage capital investment firm Bluepoint Partners to help it bring its electric vehicle (EV) fire suppression technology to market, without disclosing the amount invested and the terms.
The news comes amid a heightened focus on EV battery safety in South Korea following a major fire in the car park of an apartment complex in the city of Incheon earlier this month, which started in a parked Mercedes-Benz EQE. The blaze destroyed over 100 vehicles in the complex and injured 23 people. Separate reports suggest more than 70 EV fires were reported in the country last year.
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Lee Mobility develops fire suppression equipment focused mainly on EVs, with its products having recently received awards from the South Korea Public Procurement Service, allowing it to become a direct supplier to government agencies.
One of its solutions is an onboard device fitted to the underside of a battery pack which can penetrate the EV battery and extinguish a fire in around 10 minutes, preventing it from spreading. The company has also developed an automated stationary extinguishing system for EV charging stations.
