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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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End-of-day quote Korea Stock Exchange  -  2022-06-28
175500.00 KRW   -5.65%
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Hyundai to recall 281,000 North American vehicles over exploding part

05/24/2022 | 04:13pm EDT
The logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in Seoul

WASHINGTON (Reuters) - Hyundai Motor America will recall 281,000 vehicles in North America over seat-belt pretensioners that could explode and project metal fragments, causing injuries.

The recall, which comes after three injury reports, covers some 2019-2022 Accent, 2021-2023 Elantra, and 2021-2022 Elantra hybrid vehicles. In the event of a crash, front driver or passenger-side seat-belt pretensioners could explode upon deployment. Dealers will secure seat-belt pretensioners with a cap.

Seat-belt pretensioners are part of the a system that locks the seatbelt in place during a crash to provide additional protection to occupants.

This recall expands and replaces four earlier recalls. All Accent, Elantra, and Elantra HEV vehicles already repaired under the previous recalls will need to have the new recall fix completed, the National Highway Traffic Safety Administration (NHTSA) said Tuesday.

The new recall includes 239,000 vehicles in the United States and about 42,000 in Canada, Hyundai said. Two injuries were reported in the United States and one in Singapore.

In September, NHTSA told Hyundai of a crash incident involving a 2021 Elantra, where the driver-side seat belt pretensioner allegedly deployed abnormally, causing metal fragments to injure an occupant's leg. The agency had asked Hyundai to assess the incident.

Hyundai, which has extensively investigated the root cause of the issue, said it was still actively investigating Venue and Genesis GV70/GV80 vehicles that were previously recalled.

(The story corrects headline to show vehicles from North America not just U.S.)

(Reporting by David Shepardson; Editing by Bernadette Baum)

By David Shepardson


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ACCENT GROUP LIMITED 1.21% 1.255 Delayed Quote.-47.14%
HYUNDAI CORPORATION 0.33% 15350 End-of-day quote.-8.63%
HYUNDAI MOTOR COMPANY -5.65% 175500 End-of-day quote.-16.03%
MSCI SINGAPORE (GDTR) -0.71% 5352.3 Real-time Quote.-13.66%
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Financials
Sales 2022 129 349 B 99,5 B 99,5 B
Net income 2022 6 568 B 5,05 B 5,05 B
Net Debt 2022 81 778 B 62,9 B 62,9 B
P/E ratio 2022 6,71x
Yield 2022 2,89%
Capitalization 36 778 B 28 303 M 28 303 M
EV / Sales 2022 0,92x
EV / Sales 2023 0,87x
Nbr of Employees 70 388
Free-Float 69,7%
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Mean consensus BUY
Number of Analysts 28
Last Close Price 175 500,00 KRW
Average target price 255 642,86 KRW
Spread / Average Target 45,7%
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Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Executive Vice President
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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