LGCLF - Hyundai recalls 82K electric vehicles due to fire risk

The electric vehicle sector is seeing one of the biggest safety test of its history with Hyundai (HYMLF) replacing battery systems in about 82K EVs globally due to the risk of fires from LG Chem (LGCLF) batteries.The recall is estimated to cost the South Korean automaker about $900M."It's very significant for both Hyundai and LG as we are in the early stages of the electric vehicle era. How Hyundai handles this will set a precedent not just in South Korea but also for other countries," notes said Lee Hang-koo of the Korea Institute for Industrial Economics & Trade.The recall applies to nearly 76K Kona EVs built between 2018 and 2020, including about 25K sold in South Korea. Some Ioniq EV models and Elec City buses are also part of the recall action. Kona and Ioniq owners are advised to limit battery charging to 90% of capacity until the battery has been replaced.Hyundai

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Hyundai recalls 82K electric vehicles due to fire risk