The recall will price Hyundai 1 trillion Korean received, or $900 million. On a per-vehicle foundation, the typical price is $11,000 per automotive — an astronomically excessive quantity for a recall.
Changing a whole battery is an excessive measure, requiring an identical quantity of labor and expense as changing a whole engine of a conventional inside combustion-powered automotive. Only a few remembers of gasoline powered vehicles require a whole engine to get replaced. One of many few examples was a 2014 recall of 785 of the Porsche 911 GT3 sports activities vehicles. Porsche didn’t launch the price of that recall, however it’s actually costlier on a per-vehicle foundation than this Hyundai recall.
Nonetheless, a recall costing greater than $11,000 per car is extraordinarily uncommon. Exact figures aren’t out there as a result of most automakers don’t disclose the price of their remembers.
“General, battery security and sturdiness will likely be more and more essential if auto corporations need to keep away from a few of the giant battery-recall prices which have befallen the consumer-electronics business,” he stated.
The price of Hyundai’s recall is one other indication of simply how costly EV batteries are relative to the the price of the whole automotive. Till the price of the batteries come down, by means of higher manufacturing worldwide and economies of scale, the price of making electrical automobiles will stay increased than comparable gasoline vehicles.
The less elements on the EVs might additionally imply that remembers needs to be much less frequent than for conventional inside combustion-powered vehicles. However within the close to time period, there may very well be important prices if battery hearth issues trigger battery replacements.
Hyundai stated an investigation of the fires confirmed the vehicles’ faulty LG-made battery cells might brief circuit.
The recall additionally covers the Ioniq EV, and Elec Metropolis automobiles in South Korea. The recall contains 27,000 Korean automobiles and 55,000 elsewhere on the planet.
GM isn’t changing the batteries in 68,000 Bolts being recalled globally. Of that whole, practically 51,000 are in the US. Whereas the automaker is not saying how its downside will likely be addressed, it’s prone to be dealt with with a software program replace.
Hyundai stated it’s nonetheless in talks with battery provider LG Vitality Options, as to which firm will likely be accountable for how a lot of the associated fee. The Korean Transport ministry appeared accountable LG for the fireplace downside in its assertion on the recall, attributing them to a misaligned battery cell.
However LG’s assertion, which stated it’ll cooperate with the Korean Transport Ministry’s ongoing investigation, denied it was the explanation for the fires.
“The hearth was not recreated within the lab check, and the problem was an early mass manufacturing downside in Hyundai Motors devoted line,” stated LG’s assertion. It stated it “will additional strengthen security in all processes from product plan to fabricate and inspection.”
— CNN’s Gaewon Bae contributed to this story