Market Chatter: Volvo Recalls Over 40,000 Electric SUVs Over Battery Overheating Risk

MT Newswires Live

9 hours ago

Zhejiang Geely Holding Group-owned Volvo Cars will recall more than 40,000 of its flagship electric EX30 SUVs due to a risk that their high-voltage battery packs could overheat, the carmaker told Reuters on Monday.

The previously undisclosed recall affects 40,323 EX30 Single-Motor Extended Range and Twin-Motor Performance vehicles. The issue will be remedied by replacing modules within the battery packs, according to the report.

The Swedish automaker reportedly said it is contacting affected customers to advise them on the next steps.

Zhejiang Geely Holding Group is the parent of Hong Kong-listed Geely Automobile (HKG:0175).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The issue will be remedied by replacing modules within the battery packs, according to the report.</p><p>The Swedish automaker reportedly said it is contacting affected customers to advise them on the next steps.</p><p>Zhejiang Geely Holding Group is the parent of Hong Kong-listed <a href=\"https://laohu8.com/S/GELYF\">Geely Automobile</a> (HKG:0175).</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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