Is Lucid's Software Fix For Windshield Defroster Issue Enough? NHTSA Opens Probe
Portfolio Pulse from Anan Ashraf
The National Highway Traffic Safety Administration (NHTSA) is investigating the effectiveness of Lucid Group Inc's software update remedy for a recall of over 2,000 Air Sedans due to a windshield defrosting issue. The recall, issued in January for vehicles made during 2022-2023, concerns the failure of the high voltage coolant heater (HVCH) to defrost the windshield. Lucid's solution involves a software update to alert drivers of a failure, but NHTSA is concerned this may not be sufficient. The investigation follows a similar recall by Jaguar Land Rover, which opted to replace the coolant heater in affected vehicles. Lucid delivered 6,001 vehicles in 2023 and will discuss its full-year financial results on Feb. 21.
February 12, 2024 | 11:11 am
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Lucid Group Inc is under investigation by NHTSA for the effectiveness of its software update remedy for a recall concerning windshield defrosting issues in over 2,000 Air Sedans.
The investigation by NHTSA into the effectiveness of Lucid's software update remedy for the windshield defrosting issue could potentially lead to negative publicity and concerns among consumers regarding the safety and reliability of Lucid vehicles. This could impact consumer confidence and potentially affect sales in the short term, leading to a negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100