Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Stellantis to recall over 90,000 vehicles due to fire risk

Published 10/05/2023, 19:30
Updated 10/05/2023, 19:30
© Reuters

American automotive company Stellantis NV (NYSE:STLA) has announced a recall of over 90,000 plug-in hybrid electric vehicles to dealerships. The recall is due to an increased risk of fire.

The Federal Motor Transport Authority (KBA) has warned that the recall concerns around 32,000 units of Citroën, DS, Opel and Peugeot cars in Germany, built between 2019 and 2023.

The company plans to contact affected customers shortly to check the drive battery support on their vehicles. An Opel spokeswoman confirmed the recall by saying, “We will contact customers shortly to check the drive battery support on the affected vehicles and, if necessary, insert water drainage holes at the specified locations.”

This measure is expected to prevent any risk of rusting through the battery reinforcement and box in the future.

This latest recall follows numerous electric models from Stellantis, and Toyota (NYSE:TM) that were sent to workshops due to potential battery issues.

The cause of the PHEV recall is reportedly related to the drive battery’s support. The previous recalls were due to a software calibration error in the traction battery control unit, possibly leading to the drive being switched off.

Shares of STLA are up 0.34% in afternoon trading on Wednesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.