BYD is recalling 96,714 Dolphin and Yuan Plus vehicles in China starting September 30, for fire risk due to manufacturing process.
BYD (HKG: 1211, OTCMKTS: BYDDY) is recalling nearly 100,000 electric vehicles (EVs) in one of its rare recall moves.
The new energy vehicle (NEV) maker will recall 96,714 Dolphin and Yuan Plus vehicles in China starting September 30, 2024, due to a risk of fire, according to a statement on China's State Administration for Market Regulation (SAMR) website today.
The recall consists of two groups, conducted by two BYD operating entities.
BYD Auto Industry Co Ltd will recall a total of 87,762 Dolphin and Yuan Plus EVs manufactured between February 4, 2023, and December 26, 2023.
BYD Auto Co Ltd will recall a total of 8,952 units of Yuan Plus EVs manufactured between November 2, 2022, and June 19, 2023.
Due to the manufacturing process of the Column-Assist Electric Power Steering (CEPS) controller, the capacitor on the controller's circuit board in some of the vehicles covered by this recall may develop microcracks, according to the statement.
During vehicle use, the capacitor microcracks may expand and trigger a short circuit, which could cause the capacitor to overheat and burn, or even catch fire, the announcement said.
BYD will commission authorized dealers to retrofit the vehicles within the recall with controller insulation gaskets free of charge to eliminate the potential safety hazard.
BYD is the largest NEV maker in China, selling a record 373,083 NEVs in August, up 35.97 percent, and up 8.97 percent from July.
In the January-August period, BYD sold 2,328,449 NEVs, up 29.92 percent year-on-year.
Unlike Tesla's (NASDAQ: TSLA) frequent recalls, including for software issues, recall moves are uncommon for local Chinese EV makers.
BYD's last recall was on April 30, when the company recalled 16,666 Seagull EVs in China due to a software issue that could cause the reverse camera to fail to display.
BYD chief scientist expects solid-state batteries to be widely used in 5 years' time
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