Toyota Recalls its bZ4X Electric Vehicles amid Loose Bolts

Toyota Recalls its bZ4X Electric Vehicles amid Loose Bolts

Toyota (NYSE: TM) has issued a safety recall for over 2,000 of its all-electric BZ4X crossovers. The action comes amid loose bolts that connect the vehicle’s wheels to its body, which could result in detachment.

According to the automaker, “The hub bolt may loosen due to repeated sharp turns and sudden braking. Therefore, if you continue to drive in that state, abnormal noise will be generated, and in the worst case, the tires may fall off.”

The automaker stated that the vehicle owners would be notified through several methods, starting June 23. Tough the automaker says the cause of the loose bolts is still unknown, they advise customers to contact their local authorized Toyota dealer, which will pick up the vehicle and provide a loaner at no cost. Toyota’s shares fell 0.7% Friday following the news.

“After low-mileage use, all of the hub bolts on the wheel of the subject vehicles can loosen to the point where the wheel can detach from the vehicle,” a spokesperson for Toyota said in a statement sent to CNBC via email.

“If a wheel detaches from the vehicle while driving, it could result in a loss of vehicle control, increasing the risk of a crash,” they added.

As per the International Energy Agency, electric vehicle sales rose to 6.6 million in 2021. Moreover, in the first quarter of 2022, EV sales surged 75% to 2 million compared to the same period of the previous year.

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