The world’s biggest car company, Toyota Motor Corp., reluctantly released an electric vehicle in May. Weeks later, it recalled 2,700 of them because there was a risk their wheels — the most fundamental component — would fall off. If that’s the level of quality and safety traditional auto giants are willing to commit to, then investors and regulators should increase their scrutiny.
Getting it right on battery technology and electric motors is one thing, but bolting the wheels on properly? It shouldn’t even be a question. Billions of dollars have been invested, huge promises have been made and every major car manufacturer in the world has committed to go electric and clean. What’s more, cars are selling at record high prices.
Toyota’s statement was alarming. “After low-mileage use, all of the hub bolts on the wheel can loosen to the point where the wheel can detach from the vehicle. If a wheel detaches from the vehicle while driving, it could result in a loss of vehicle control, increasing the risk of a crash,” the company said as it recalled its first electric car release. Long a leader in hybrid or gasoline-electric technology, the Japanese firm has been dragging its feet on EVs as competitors like Volkswagen AG have raced ahead. Toyota president Akio Toyoda has in the past commented on the excessive hype around green cars and pointed out the downsides.
Meanwhile, Subaru Corp., in which Toyota holds a 20.02% stake, also recalled the Solterra, a related electric vehicle model jointly developed that shares parts with the latter’s bZ4x.
Recalls are par for the course in the auto industry — every year, millions of vehicles are affected. Last year, more than 21 million were accounted for in recalls mandated by the US National
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