BAIC recalls 32,000 electric vehicles with potential safety hazards in battery storage

Due to the consistency problem of the power lithium battery system, which may cause safety hazards, BAIC announced the recall of nearly 32,000 pure electric vehicles. On March 23, BAIC New Energy Changzhou, BAIC Motor and BAIC Guangzhou filed a recall plan with the State Administration for Market Regulation and decided to recall from November 1, 2016 to 2018 from March 24, 2012. A total of 31963 EX360 and EU400 pure electric vehicles were produced on December 21. The reason for the recall is mainly due to the consistency difference of the power lithium battery system of some vehicles. When the high temperature environment continues and frequent fast charging for a long time, it may cause the performance of individual single cells to deteriorate, and occasionally fail in extreme cases, causing the power lithium battery to catch fire. The above-mentioned power lithium battery comes from Funeng Technology, which is also the battery supplier for the two recalled models of EX360 and EU400. On the evening of the 23rd, Funeng Technology announced that according to the previous agreement between the company and BAIC Group, the company will bear the costs involved in the recall. The related costs are expected to be 30-50 million yuan, and it will actively cooperate with BAIC in relevant inspection and maintenance work. . Regarding the recalled models, BAIC and Funeng jointly stated that they will conduct free inspections and repairs, replace parts that do not meet the requirements, and upgrade all recalled vehicle control strategy software to eliminate potential safety hazards. According to a person familiar with the Beiqi New Energy sources, the two cars involved in the recall have been discontinued, and the battery cells used in other models in production are not the same products used in the recalled models. It is worth mentioning that Funeng Technology has also received an inquiry letter from the Shanghai Stock Exchange in response to this recall and the aforementioned agreement. In response to the recall, the Shanghai Stock Exchange requires Funeng Technology to further disclose: 1. The specific model, delivery time and quantity of the power lithium battery products supporting EX360 and EU400 pure electric vehicles; 2. The specific safety hazards of the related products involved in this recall The situation, whether the relevant products are matched with other models of BAIC Group or other customer models, if so, further explain whether other related products are at risk of being recalled; 3. The impact of this recall on the company, and explain the measures taken and proposed to be taken . Based on the agreement signed between Funeng and BAIC, and the impact of the recall on BAIC, the Shanghai Stock Exchange requires Funeng to further disclose: 1. The background, time and important content of the signing of the relevant agreement; 2. The company is aware of the risk of recall of related products At the point in time, whether the relevant products have been aware of potential safety hazards in the previous period; 3. The specific circumstances of the company's early provision of warranty funds, including but not limited to the nature of the warranty funds, the provision policy and ratio, the provision amount, the amount and the balance.