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Recently, Hyundai Motors in South Korea underwent a recycling operation involving all new energy products. Currently, there have been more than ten fire accidents, and Hyundai officials predict that the recycling scale will reach 33000 units.

This is the second time Hyundai Motors has extensively recycled the same model due to battery issues, following a battery related software upgrade of 77000 KONA electric vehicles worldwide in October last year. The Chinese version of this model is called the Encino and is directly produced by Hyundai's Chongqing factory. Currently, Hyundai has not disclosed any overseas recycling plans.

It is reported that the recycled products are equipped with power batteries under LG Chemical, which have the highest weight among modern new energy products. LG is also a battery supplier for globally renowned automakers such as Tesla and Volkswagen. According to data, from August 2017 to the end of 2019, there have been 27 electric vehicle fire accidents in South Korea, with products equipped with LG chemical power batteries accounting for 63%.

In fact, as early as two years ago, globally renowned research firm SNER Research suggested in a research report that LG Chemical's future profits may show a significant decline in non recurring losses caused by energy storage battery fires.

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