Xpeng recalls 47,490 P7+ sedans, affecting over 70% of owners due to steering defects

The Chinese automaker Xpeng ￰0￱ recalled over 47,000 units of its popular P7+ ￰1￱ recall dealt another blow to the Chinese EV market as a leading brand had to recall one of its most popular models due to concerns over safety ￰2￱ issue involves a flaw in the sensor wiring ￰3￱ affected cars, which include some of those produced between August 20 last year and April 27 this year, may display a steering fault warning indicator light before experiencing a steering ￰4￱ has committed to replacing the faulty parts free of charge for ￰5￱ has recalled its flagship model The Chinese electric vehicle maker Xpeng ￰6￱ to issue a recall of 47,490 units of its P7+ sedan, affecting at least 70% of its customers who bought the ￰7￱ recall is due to a steering fault that poses safety risks, according to a statement from China’s State Administration for Market Regulation (SAMR) that was released ￰8￱ P7+ sedan was launched late last year and quickly became one of Xpeng’s most popular models, selling 67,000 units.

China’s price competition Earlier this year, regulators moved to rein in the industry’s price war , which has been raging for several years as automakers compete for market share in the world’s largest EV ￰9￱ established players like BYD and Tesla, as well as newer companies like Nio and Xpeng, have had to cut prices to attract ￰10￱ these discounts have boosted sales, they have also squeezed profit ￰11￱ response, automakers have been pressuring their suppliers to lower ￰12￱ analysts and regulators have warned that these conditions could affect the standards of materials and components used in production. Xpeng’s incident may lead to increased global scrutiny on China’s auto exports and domestic regulators pushing for stronger safety standards.

China’s booming EV market provides buyers with lower prices and rapid technological innovation, but the sustainability of those advantages may depend on how well automakers can balance affordability with durability and ￰13￱ your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.