Four Automakers in South Korea to Recall 260,184 Vehicles Over Defective Parts

MT Newswires Live

10/30

Four companies in South Korea, namely Hyundai Motor (KRX:005380), Kia (KRX:000270), Stellantis Korea, and BMW Korea, will recall a total of 260,184 vehicles across 57 models to fix defective parts, the Ministry of Land, Infrastructure and Transport said in a press release on Thursday.

Hyundai and Kia's several electric and combustion models have issues related to fire and engine stalling risks. Hyundai's Porter II Electric and Kia's Bongo III EV have battery management system defects that could cause fires, while both companies' SUV models face stalling risks from faulty fuel pump components, it said.

BMW Korea and Stellantis Korea's recalled vehicles have issues related to oil leaks and crankshaft sensor defects that may lead to fires or engine failure, according to the transport ministry.

Shares of Hyundai Motor rose nearly 5% and 3% in recent trade.

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