HYMLF - Hyundai looks to avoid hot legal mess over EV battery fires

Hyundai Motors (HYMLF) is being sued by over 200 people in a class-action lawsuit over the reduced value of their electric vehicles dues to fire risk. The plaintiffs want Hyundai to replace the entire battery packs in their vehicles, instead of just issuing a software update to fix the fire risk issue.Hyundai could also face a fine from South Korean regulators pending an active investigation. Battery engine fires are not considered a large issue in the EV industry at the moment, although each incident receives a fair amount of publicity. Last week, GM recalled about 69K Chevy Bolts due to battery fire risk. The National Highway Traffic Safety Administration closed an investigation into Tesla electric car battery fires in 2014, but a separate investigation from 2019 remains open.

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Hyundai looks to avoid hot legal mess over EV battery fires