Li Auto (HKG:2015) is recalling 11,411 MEGA 2024 electric vehicles manufactured between February and December 2024 due to a coolant corrosion issue that could lead to battery or motor controller failure, according to China's State Administration for Market Regulation.

The affected vehicles have insufficient anti-corrosion performance in the coolant, which could cause leaks and, in extreme cases, thermal runaway of the power battery, posing a safety risk, the statement said.

Li Auto issued a public apology and announced safety measures following a fire involving a MEGA 2024 model in Shanghai on Oct. 23, according to a detailed explanation posted on their official WeChat account.

The company said it has been cooperating with authorities in the investigation, noting that the inspection process is ongoing and no final technical conclusion has been reached.

An internal review found that vehicles from the same batch may have insufficient coolant anti-corrosion performance, potentially causing leakage and damage to the battery and motor cooling system under certain conditions, Li Auto said.

Li Auto will replace the coolant, power battery, and front motor controller free of charge. The company's cloud-based system will issue early warnings and contact users for roadside assistance if abnormalities are detected.