financetom
Business
financetom
/
Business
/
BMW, venture to recall 1.36 million cars in China due to airbag risks, regulator says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BMW, venture to recall 1.36 million cars in China due to airbag risks, regulator says
Aug 16, 2024 1:34 AM

HONG KONG (Reuters) -German automaker BMW and its joint venture will recall a combined 1.36 million locally produced and imported cars in China due to potential risks with the Takata airbag, China's market regulator said on Friday.

The recalls, effective immediately, are for models produced from 2003-2017, China's State Administration for Market Regulation said in a statement.

BMW Brilliance Automotive, a joint venture based in northeast China, will recall 598,496 China-made cars, while BMW China Automobile Trading will recall 759,448 imported cars, the regulator said.

For vehicles that have been confirmed to have defects after inspection, BMW will replace the driver's front airbag free of charge to eliminate safety hazards, the statement said.

The recall is for BMW cars with steering wheel refits by the car owners, which could have installed faulty Takata airbags, the statement said.

The German carmaker also recalled 394,000 vehicles in the United States due to faulty Takata airbag inflators that could potentially cause serious or fatal injuries, the U.S. National Highway Traffic Safety Administration said in July.

BMW China did not immediately respond to a request for comment.

(Reporting by Farah Master, Zoey Zhang and the Beijing newsroom; Editing by Christian Schmollinger and Muralikumar Anantharaman)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sage Therapeutics Drug's Failure in Huntington's 'Not Surprising,' RBC Says
Sage Therapeutics Drug's Failure in Huntington's 'Not Surprising,' RBC Says
Nov 21, 2024
03:16 PM EST, 11/21/2024 (MT Newswires) -- Sage Therapeutics ( SAGE ) drug's failure in Huntington's disease was not surprising as there was a low likelihood of success to begin with, RBC Capital Markets said in a note emailed Thursday. RBC was referring to Sage's dalzanemdor, which failed to meet the main and secondary goals in a phase 2 study...
Update On Groupe Dynamite Prices; Down 4.75% On Debut
Update On Groupe Dynamite Prices; Down 4.75% On Debut
Nov 21, 2024
03:22 PM EST, 11/21/2024 (MT Newswires) -- Groupe Dynamite Inc. (GRGD.TO), a Montreal-based retailer behind the Dynamite and Garage stores, was at last look down 4.75% at $20 on its Toronto Stock Exchange debut Thursday -- having priced its initial public offering at $21 per subordinate voting share. This comes after shareholders selling 14.3 million shares in a related IPO...
Simmons First National Insider Sold Shares Worth $366,785, According to a Recent SEC Filing
Simmons First National Insider Sold Shares Worth $366,785, According to a Recent SEC Filing
Nov 21, 2024
03:17 PM EST, 11/21/2024 (MT Newswires) -- Robert A Fehlman, CEO, on November 20, 2024, sold 15,270 shares in Simmons First National ( SFNC ) for $366,785. Following the Form 4 filing with the SEC, Fehlman has control over a total of 157,857 shares of the company, with 156,357 shares held directly and 1,500 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/90498/000095017024129681/xslF345X05/ownership.xml Price:...
Market Chatter: Blackstone Acquires Stake in Lancium for $500 Million
Market Chatter: Blackstone Acquires Stake in Lancium for $500 Million
Nov 21, 2024
03:21 PM EST, 11/21/2024 (MT Newswires) -- Blackstone (BX) has acquired a stake in Lancium, an energy technology company based in Houston, for more than $500 million, Bloomberg reported late Wednesday. The equity financing will support Lancium's plans to build five facilities in Texas where wind and solar energy is readily available, the report said, citing people familiar with the...