Tesla recalls more than 14,000 cars in China over Takata airbags

Tesla does not announce how many cars it sells in China overall. (File/AFP)
Updated 18 January 2019
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Tesla recalls more than 14,000 cars in China over Takata airbags

  • The US giant has already announced the recall of some Model S vehicles as part of a global industry-wide rooting out of parts made by Takata
  • The affected vehicles in China are Model S cars made between February 2014 and December 2016

SHANGHAI: Electric-vehicle maker Tesla will recall 14,123 cars in China over airbags that contained a part made by now-defunct Japanese manufacturer Takata, the Chinese market regulator announced on Friday.
The US giant has already announced the recall of some Model S vehicles as part of a global industry-wide rooting out of parts made by Takata, which went bust in 2017 after its airbags were blamed for a number of deaths.
The affected vehicles in China are Model S cars made between February 2014 and December 2016, the State Administration of Market Regulation said.
It said the cars’ passenger-side airbags were equipped with an ammonium nitrate propellant made by Takata, which was at risk of breakage that could result in the ejection of debris.
Tesla will replace them, it said.
Tesla declined comment on Friday, but an announcement on its website said the “recall of the front passenger airbags in 2012 Model S vehicles began in January 2017, was extended to 2013 Model S vehicles in January 2018, and is now being extended to 2014-2016 Model S vehicles in January 2019.”
Tesla does not announce how many cars it sells in China overall.
Tesla CEO Elon Musk was on hand earlier this month for the ground-breaking of a factory outside Shanghai, which the company says will eventually have an annual production capacity of 500,000 and is geared toward meeting growing Chinese demand for electric vehicles.


Brent eases from 2019 highs as markets await US-China trade talks outcome

Updated 19 February 2019
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Brent eases from 2019 highs as markets await US-China trade talks outcome

  • The slight downward correction was driven by concerns about the health of the global economy this year
  • Bank of America Merrill Lynch expects Brent prices to average between $50 and $70 per barrel

SINGAPORE: Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by OPEC still meant markets were relatively tight.
International Brent crude oil futures were at $66.08 per barrel at 0220 GMT, down 42 cents, or 0.6 percent from their last close, but still not far off the 2019 high of $66.83 a barrel hit in the previous session.
US West Texas Intermediate (WTI) crude futures were at $55.71 per barrel. While that was up 12 cents from their last settlement, it was below the $56.33 2019 high from the previous day.
Traders said the slight downward correction was driven by concerns about the health of the global economy this year.
Bank of America Merrill Lynch said in a note that the Sino-American trade dispute was hurting economic growth globally.
“Addressing global trade tensions is key for improving the economic outlook,” it said in a note.
China’s vice premier and chief trade negotiator, Liu He, and US Trade Representative Robert Lighthizer lead a round of trade talks this week in Washington.
Considering the economic outlook and supply and demand balances, the bank said it expects Brent prices to average between $50 and $70 per barrel, “anchored around $60.”
Despite some caution around trade, global oil markets remain relatively tight because of supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), with top crude exporter Saudi Arabia cutting the most.
Saudi seaborne crude exports fell in the first half of February, with departures standing at 6.204 million barrels per day (bpd), a 1.341 million bpd decline on the previous month and 0.91 million bpd decline on the year, data intelligence firm Kpler said.
Further providing oil markets with support are US sanctions against petroleum exporters Iran and Venezuela.
Venezuela is a major crude supplier to US refineries while Iran is a key exporter to major demand centers in Asia, especially China and India.