CNN BUSINESS | Hyundai’s recall of 82,000 electric cars is one of the most expensive in history
New York (CNN Business) – Hyundai will recall 82,000 electric cars globally to replace their
batteries after 15 reports of fires involving the
vehicles. Despite the relatively small number of cars involved,
Hyundai’s recall is one of the most expensive in history, signaling how
electric car defects could create hefty costs for automakers — at least in the
near future.
The recall will cost Hyundai 1 trillion Korean won, or $900 million. On a
per-vehicle basis, the average cost is $11,000 — an astronomically high number
for a recall.
Replacing an entire battery is an extreme measure, requiring a similar amount
of work and expense as replacing an entire engine of a traditional internal
combustion-powered car. Very few recalls of gasoline powered cars require an
entire engine to be replaced. One of the few exceptions was a 2014 recall of
785 of the Porsche 911 GT3 sports cars. Porsche did not release the cost of
that recall, but it was certainly more expensive on a per-vehicle basis than
this Hyundai recall. —read
more—
Leave a Reply