Sinking of Ship Morning Midas Costs Auto Industry Estimated $559M

Sinking of Ship Morning Midas Costs Auto Industry Estimated $559M

East Lansing, Mich.—According to a preliminary estimate from Anderson Economic Group, LLC, the sinking of the Morning Midas will cost the automotive industry at least $559 million. The vessel was transporting vehicles manufactured in China to North America. The Morning Midas was the third giant car carrier transporting battery electric vehicles to catch fire at sea since 2022. As with the Felic...