Porsche Readies Global Taycan EV Recall to Fix Software Issue

(Bloomberg) -- Porsche AG is planning a global recall of its Taycan electric car to fix a software issue that can cause a sudden loss of power, according to people familiar with the matter.

The move follows reports of cars switching to emergency mode in the U.S. that prompted an investigation by the National Highway Traffic Safety Administration in May, said the people, who asked not to be identified as the plan isn't public.

An official announcement may be made in coming days, the people said. There have been no reported accidents or injuries, one of the people said. A spokesman for Porsche declined to comment.

A recall of Porsche's first all-electric car underscores the technical challenges of rolling out vehicles packed with increasingly sophisticated software gadgetry on a large scale. Tesla Inc. was ordered to make a fix to software in more than 285,000 of its cars in China to address risks associated with the autopilot feature.

Earlier this year, some Porsche drivers complained about the Taycan, which is powered by an 800-volt battery, suddenly stalling. In a filing on May 17, the NHTSA described the problem as “loss of motive power while in motion at any speed.”

All complaints detailed that the problem occurred without warning or error messages about a battery fault, according to the filing.

The Taycan, unveiled in 2019, is the carmaker's first purely battery-powered model in the costly shift to electric vehicles, and Porsche's healthy margins are critical for parent Volkswagen AG. Sales during the first quarter almost matched those of the iconic 911 sports car.

With assistance from Bloomberg