Yahoo Finance automotive reporter Pras Subramanian joins the Live show to discuss a Lucid recall.
- And Lucid Motors shares closing near the flatline today after the electric vehicle maker announced a recall on its Lucid Air. Senior autos reporter Pras Subramanian here with that story. Pras, what's the deal?
PRAS SUBRAMANIAN: Hey, how's it going, [? Dave? ?] Yeah, so there's an electrical issue with about 640 Lucid Air EVs. What will happen is the electrical contactor switches may kind of get stuck, cutting off power-- means the car would get stuck. Now, Lucid says that what would happen is the motors would shut off, the car would coast to a stop, and you could restart the vehicle after a shutdown, but not exactly a good thing when your car is in motion there.
So, you know, only 6% of vehicles will be affected by it. So that's not that bad. The fix is a software update or potential replacement of these contactor switches.
You know, bottom line here-- we've seen a lot of growing pains with a lot of EV startups and even regular EV makers here. We saw just now the Ford F-150 this month had a-- or last month had an issue with their battery. Lucid had a wiring issue with their cars last year, and then also Rivian with a bunch of snafus here. Most kind of alarming was a missing bolt on its front suspension arm.
So these EV makers and even traditional automakers, ramping up new EVs, it takes time. And also, there's a lot of little issues you got to keep track of.