Not recalling 50 million ARC airbag inflators for now
Safety regulators had previously hoped to recall 50 million airbag inflators following deaths/injuries. December 20, 2024 — Exploding air bag inflators are still affecting automakers, vehicles, occupants and safety regulators who are trying to determine whether millions of inflators and vehicles should be recalled. The entire ordeal involves ARC Automotive, Delphi Automotive and a federal safety investigation launched in 2015 by the National Highway Traffic Safety Administration. The investigation was upgraded in 2016 after a Canadian woman died when a 2009 Hyundai Elantra ARC airbag inflator ruptured. NHTSA estimates there are more than 50 million suspect air bag inflators in vehicles produced by 13 automakers. Safety regulators said in 2023 that a recall should be considered due to the dangers posed by the inflators. This has caused concern among airbag inflator manufacturers and automakers. GM did announce a recall of about 1 million vehicles in May 2023, but ARC automatically rejected any talk of a recall. All companies agree that…
KTM, Europe’s largest motorcycle manufacturer, applied
The company is heavily in debt and "faces significant obstacles" on multiple fronts KTM is preparing for bankruptcy as they are saddled with hundreds of millions of dollars in debt and do not expect to be able to obtain interim financing in time to meet their obligations. On Friday, they will apply for self-administration, which will give them time to work with creditors. The exact outcome is unclear, but there has been talk of job cuts and production cuts. KTM has grown to become Europe's largest motorcycle manufacturer, but this is a hollow victory as the company is insolvent and they are preparing to launch a "self-administered legal restructuring process". The application is due on Friday and the company hopes to have all the work completed within 90 days. The company declined to reveal specifics, but said they "faced significant obstacles." They added that self-management would help them "adapt to a changing market" and secure their position as a global…
Europe’s largest battery manufacturer may switch to static batteries
Poland-based LG Energy Solution is Europe's largest supplier of electric vehicle batteries, but it is being hurt by waning interest in electric vehicles. go through Chris Chilton 10 hours ago LG Energy Solution's Polish plant is considering building a static storage unit to offset falling demand for its electric vehicle batteries. The company is Europe's largest supplier of electric vehicle batteries but expects revenue to fall by a third this year. The Polish government reportedly plans to subsidize home storage installations, so switching to static storage could work well. Automakers aren’t the only ones hurt by slowing demand for electric vehicles. Companies that supply the batteries that power them, like LG Energy Solutions, are also feeling the pinch. Now, one of them is considering taking its battery technology in a new direction to shore up sagging profits. LG Energy Solutions' Polish unit is the largest supplier of electric vehicle batteries to the European auto industry, with 6,600 employees and 40%…
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