The crew of 22 people were forced to leave the ship after it caught fire and exploded in the ocean.
According to The Wall Street Journal, a large number of the cars are electric, which is making it difficult to fight the fires.
The batteries that are still burning are part of the fire, according to a spokesman for the company.
The news shows that transporting massive and highly flammable batteries comes with some inherent risks, a topic that is relevant given the exponential rise of the EV.
The cargo ship, dubbed the Felicity Ace, was carrying 4,000 cars from Germany to the US. The Volkswagen Group makes electric luxury cars including the VW ID.4.
Since the crew abandoned the ship, it has been adrift and on fire off the shore of the Azores islands.
It sounds like a complete write-off.
The fire continues to be active, although it has diminished in intensity, according to an Azores port captain.
After the fire is out, tug boats are going to pull the vessel to shore.
Efforts to fight fire on a drifting ship in the Atlantic Ocean are complicated by burning electric-vehicle batteries.
The White House plans to install thousands of electric vehicle charging stations on US highways.
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