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FILE PHOTO: The logo of Hyundai Motor is pictured at the second media day for the Shanghai auto show in Shanghai

MONEY & BUSINESS:
Hyundai to remember Kona EV over defective battery cells: South Korea ministry


SUBMIT PICTURE: The logo design of Hyundai Motor is envisioned at the 2nd media day for the Shanghai automobile program in Shanghai, China April 17, 2019. REUTERS/Aly Tune

October 8, 2020

By Joyce Lee

SEOUL (Reuters) – Hyundai Motor Co will willingly remember its Kona electrical automobiles as a possible brief circuit due to defective production of its high-voltage battery cells might present a fire threat, South Korea’s transportation ministry stated on Thursday.

Beginning Oct. 16, the recall, that includes software application updates and battery replacements after evaluations, includes 25,564 Kona electrical automobiles (EVs) constructed in between September 2017 and March 2020, the transportation ministry stated in a declaration.

The security recall “is a proactive response to a suspected defective production of high-voltage batteries used in the vehicles, which may have contributed to the reported fires”, the business stated, including that it will release all required procedures to determine the reason for the fire and address consumers’ requirements.

Some 13 occurrences of fire including the Kona EV, consisting of one each in Canada and Austria, were recorded up until now, according to a declaration by ruling celebration legislator Jang Kyung-tae’s workplace on Thursday.

Kona EVs utilize batteries made by LG Chem Ltd. An LG Chem representative stated the business did not have an instant remark.

Hyundai’s shares fell 1.4%, showing financier issues that the recall and battery replacements might be expensive, as the battery uses up about 30% of an EV’s cost, experts stated.

On the other hand, LG Chem shares increased 1.8%.

The Kona Electric is the South Korean car manufacturer’s very first long-range subcompact SUV EV.

In July, Hyundai Motor Group leader Euisun Chung stated Hyundai Motor and sister business Kia Motors goal to offer 1 million battery-driven electrical automobiles in 2025, targeting more than 10% of the international market share for such automobiles.

(Reporting by Joyce Lee; Composing by Heekyong Yang; Modifying by Krishna Chandra Eluri and Sherry Jacob-Phillips)

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Are you kidding !?
of course I can, it was on
the website u.s.news.com
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