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June 15, 2022

Ford puts US ‘stop sale’ on Mustang Mach-E EV

Potential overheating of the high voltage battery main contactors.

By Graeme Roberts

Ford has told US dealers to temporarily stop selling electric Mustang Mach-E crossovers due to a potential safety defect that could cause the vehicles to become immobile.

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CNBC reported the automaker, in a notice to dealers, said potentially affected vehicles include 2021 and 2022 Mach-Es that were built from 27 May, 2020, through 24 May, 2022, at the automaker’s Cuautitlan plant in Mexico.

Nearly 49,000 of the roughly 100,000 Mach-Es produced during that time frame will be part of a recall, Ford spokesman Said Deep told CNBC.

The problem reportedly involves a potential overheating of the vehicle’s high voltage battery main contactors. The issue can lead to a malfunction that could cause the vehicle not to start or immediately lose propulsion power while in motion, the notice said.

CNBC said the recall was notable, as automakers continue to have problems launching new electric vehicles. Ford, in recent years, also has experienced problematic vehicle launches, leading to high recall and warranty costs.

Ford has issued a handful of recalls regarding the Mach-E since its launch, according to National Highway Traffic Safety Administration’s website [other US reports said this was the fifth]. They’ve ranged from a software error causing unintended acceleration in less than 500 vehicles earlier this year to problems with loose subframe bolts and inadequate bonding for thousands of the vehicles’ glass panel roofs.

Deep told CNBC Ford has submitted a recall petition to NHTSA, which handles such matters. The federal vehicle safety watchdog did not immediately respond regarding confirmation of the filing.

Ford expects to offer a solution for the problem in the third quarter, according to the bulletin. Mustang Mach-E owners will be notified via mail after repair instructions and parts ordering information have been provided to dealers.

Deep told CNBC the company’s remedy would include a software update to the vehicle’s “Secondary On-Board Diagnostic Control Module and Battery Energy Control Module.” It would be conducted remotely, or over-the-air. Customers would also have the option of taking their vehicle to a Ford dealer.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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