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2024-09-08 Update From: AutoBeta autobeta NAV: AutoBeta > News >
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AutoBeta(AutoBeta.net)12/05 Report--
On December 5th, Top Group issued an announcement in response to the domestic Model Y recall: this is related to the recall of Model Y matching steering knuckle directly supplied to customers by the company, the recall is due to insufficient water level in a quenching tank in a heat treatment production line, so that individual products are not completely immersed in quenching solution, resulting in steering knuckle strength may not meet the design requirements. Top Group said that the probability of defects in this batch of suspicious products is about 0.2% Murray 1.0%. The products involved in the recall are only equipped with Model Y models, not other models of Tesla, nor models of other customers.
In response to the measures, the Top Group said that it has completed the rectification and improvement of the heat treatment production line to ensure that the products are fully quenched and that the hardness of the products is tested by 200%. The recall is estimated according to the number of recalls and defect ratios, which will not affect the annual operating results or the company's business.
Tesla plans to recall some of the domestic Model Ys produced during the period from February 4, 2021 to October 30, 2021, totaling 21599 vehicles, due to the risk of broken shafts, the State Market Regulatory Administration announced on December 3. According to the recall announcement, the strength of the front and rear steering knuckle of some vehicles within the scope of this recall may not meet the design requirements. The steering knuckle may be deformed or broken during the use of the vehicle, which may cause the suspension connecting rod to break out of the steering knuckle under extreme force, which will affect the driving control of the vehicle and increase the risk of collision accidents.
It is worth mentioning that on November 21, Tesla applied to the US Highway Safety Administration to recall some Model Ys from June 16, 2020 to November 10, 2021 in the United States. According to the recall notice, the reason for the recall is that insufficient strength of the steering knuckle may cause the suspension connecting rod to break out of the steering knuckle, which may affect the controllability of the vehicle and increase the risk of collision. At that time, Tesla pointed the product problem to the supplier Top Group, saying that the supplier did not fully quench the parts with enough quenchant, resulting in a weakening of the parts.
Affected by the news, the top group dived in volume at the end of the day and fell to the limit at one point. The closing decline narrowed, but the decline still reached 8.86% to 57.2 yuan per share. On the same day, Tesla also experienced a sharp decline, falling 6.42% on the same day, with a market capitalization loss of US $70 billion. The sharp fall in Tesla's share price was related to Musk's selling of shares and the Model Y recall.
According to the data, Top Group was founded in 1983 and listed on the Shanghai Stock Exchange in 2015. it is mainly committed to the R & D and manufacturing of automotive power chassis system, trim system, intelligent driving control system and other fields. produce five series of products, such as damping system, trim system, intelligent driving system, chassis lightweight system, thermal management system and so on.
According to the announcement, Top Group officially entered Tesla's supply list in August 2016 and received the supplier assignment letter (Agreement) issued by Tesla on August 23, 2016. the fixed-point agreement states that the company has been recognized to provide products to Tesla, the company has officially become a supplier to Tesla, and has been approved to supply lightweight aluminum alloy chassis components to Tesla for use in Tesla Model 3 models. In addition to Tesla, Top Group is also a supplier of automotive brands such as Geely, BYD, BAIC, Great Wall, Xilai and Weima, but in its latest announcement, Top Group also stressed that the recall only involves Model Y.
Thanks to the high demeanor of the new energy vehicle industry chain in recent years, the share price of Top Group has shown a strong trend, rising from a low of 9.07 yuan in August 2019 to 68.06 yuan in November this year, an increase of 660 percent in two years, while the market capitalization has soared from 10 billion yuan to more than 70 billion yuan. However, affected by the recall, Top Group fell 8% in the previous trading day, with a total market capitalization of 63.037 billion yuan. In response to this recall, some netizens believe that Top, as a supply chain, bears the main responsibility for product defects, but Tesla, as an automobile manufacturer, should not inspect the products of its suppliers? What do you think of this?
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