Hyundai’s biggest-selling electric car which was first recalled last year. The recall is one of the first mass battery pack replacements conducted by a major automaker.
Lee Hang-Koo, who is senior researcher at the Korea Institute for Industrial Economics & Trade , said “How Hyundai handles this will set a precedent not just in South Korea but also for other countries,”
Adding the battery cell should not be seen as the direct cause of the fire risks, this was said in a statement that Hyundai misapplied LG’s suggestions for fast-charging logic in the battery management system.
South Korea’s transport ministry said in a statement that some defects had been found in some battery cells produced at LG Energy’s China factory. Hyundai did not comment on the cause of the fires.
Hyundai shares tumbled 3.9 percent while those for LG closed down 2.8 percent in line with the broader market.
Analysts said they had been told by Hyundai that an agreement on how to split the costs may be worked out. Even so, they thought it might take longer given that reputational stakes were high and the two firms appeared to be at odds over the cause of the fires.
Source: Technology News