Stellantis NV (NYSE:STLA) has announced a significant recall. Here's what you need to know.
What Happened: According to Reuters, the company, through its subsidiary FCA US LLC, is recalling an estimated 19,516 U.S.-market plug-in hybrid minivans to address a potential fire risk. This recall is specifically limited to certain model-year 2017-2021 Chrysler Pacifica Hybrids.
The recall follows a company review of warranty data that revealed seven fires in the affected vehicles. These incidents occurred when the vehicles were turned off and some happened during recharging. In addition, four customers reported symptoms consistent with smoke inhalation. Stellantis identified a rare abnormality in individual cells of the model's high-voltage battery pack as the root cause of the fires.
What's Next: Stellantis is advising owners to park their vehicles outside and away from structures until recall repairs are made. The company is developing a software update designed to detect the abnormality in the battery pack. If the abnormality is found, dealers will replace the vehicle's high-voltage battery.
Broader Impact: The recall also affects about 4,500 vehicles outside the U.S., bringing the total number of vehicles impacted to approximately 24,000 worldwide. Stellantis emphasizes that the vehicle risk is reduced when the battery charge level is depleted, and owners are advised to refrain from recharging their vehicles until the software update is installed.
STLA Price Action: Stellantis shares were up by 1.01% at $20.55 at the time of writing, according to Benzinga Pro
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