SpaceX IPO Set for Explosive Debut as Valuation Tops $2.2 Trillion 
UK Banks Report Surge in APP Fraud Losses as Pressure Mounts on Meta and Tech Platforms 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
AI Memory Boom Sparks Global Chip Supply Crunch 
Sigma Healthcare Shares Jump After Exiting Boots Acquisition Process 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Microsoft Taps AWS to Support GitHub Amid AI Coding Boom 
Anthropic Restricts Global Access to AI Models After U.S. Security Review 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Qantas Nears Launch of World’s Longest Non-Stop Flights to London and New York 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
SpaceX IPO Sparks Market Optimism as Shares Surge 19% on Trading Debut 
Roku Explores Sale Options as Interest Grows in Streaming and Ad Business 
Hanmi Semicon Shares Surge After $33 Million SpaceX Investment 
Lazard Challenges Centerview for Role in Venezuela’s Massive Debt Restructuring 
Polestar Automotive, owned by Volvo Cars, issued a recall on 1,867 units of its electric cars in China. The country's State Administration for Market Regulation (SAMR) announced the recall affecting the Polestar 4 EV models.
The SAMR said the vehicles were manufactured in China between Nov. 29, 2023, and Feb. 1, 2024. According to Teslarati, the recall is effective immediately.
Cause of the Recall
Based on the reports, the electric vehicles were recalled due to a potential problem with software in the all-electric crossover SUV’s brake controller. The software in the affected Polestar 4 units may be defective and may lead to the deterioration of the brake control.
The defect may also cause other features to malfunction, such as the electronic brake assist. The market regulator also announced that the potential defect in Polestar 4’s brake controller software may be a serious safety hazard.
To prevent untoward incidents, the SAMR advised owners that if they encounter any issue with the brake system or the EV’s display shows the malfunction indicator, they must drive on the road at a big gap or distance from other vehicles. Drivers must also apply more pressure than normal when using the brake pedal.
Remedy for the Brake System Issue
As per The Brake Report, Polestar will rectify the problem at no cost to owners of the affected Polestar 4 EVs. There is no need to visit car dealers for this as the automaker will fix the brake system remotely through software upgrades via Over-The-Air (OTA) technology.
Polestar will contact the owners to schedule a free software upgrade at an appointed service center for units that cannot receive the OTA update.
Photo by: Finn IJspeert/Unsplash
