TOKYO: Toyota Motor Corp. said on Wednesday it planned to recall around 1.03 million vehicles, including its gasoline-hybrid Prius model, in Japan, North America, Europe and other regions due to an issue with the engine wire harness which can pose a fire risk.
Following a domestic recall announcement by Japan’s transport ministry, Toyota said that in affected vehicles, the wire harness which connects to the hybrid power control unit can come into contact with the covering at the connection point.
If dust accumulates on the wire harness or the cover, the insulation on the wires could wear down over time due to vehicle vibrations. This could cause an electrical short circuit, which could generate heat and lead to a risk of fire, Toyota said.
The issue affects vehicles produced in Japan between June 2015 and May 2018, and includes the plug-in version of the Prius and the C-HR compact crossover SUV sold in Japan, Europe, Australia and other countries.
Roughly half of the recalls would take place in Japan, Toyota spokesman Jean-Yves Jault said.
Only the Prius model would be recalled in the United States, where around 192,000 vehicles were affected, he said.
Jault added that the issue had led to one incident of a short circuiting in Japan which produced smoke from the vehicle.
Toyota plans to recall 1 million hybrid models over wiring issue
Toyota plans to recall 1 million hybrid models over wiring issue
- Toyota said that in affected vehicles, the wire harness which connects to the hybrid power control unit can come into contact with the covering at the connection point
- Only the Prius model would be recalled in the United States, where around 192,000 vehicles were affected
Closing Bell: Saudi equities continue 4-day upward trend
RIYADH: Saudi equities closed higher on Wednesday, with the Tadawul All Share Index rising 51.52 points, or 0.47 percent, to finish at 10,945.15.
Trading activity was robust, with 373.9 million shares exchanged and total turnover reaching SR6.81 billion.
The MT30 Index also ended the session in positive territory, advancing 11.93 points, or 0.82 percent, to 1,472.82, while the Nomu Parallel Market Index declined 116.82 points, or 0.49 percent, to 23,551.47, reflecting continued volatility in the parallel market.
The main market saw 90 gainers against 171 decliners, indicating selective buying.
On the upside, Al Kathiri Holding Co. led gainers, closing at SR2.18, up SR0.12, or 5.83 percent. Wafrah for Industry and Development Co. advanced to SR23, gaining SR0.99, or 4.5 percent, while Al Ramz Real Estate Co. rose 4.35 percent to close at SR60.
SABIC Agri-Nutrients Co. added 4.21 percent to SR118.70, and Al Jouf Agricultural Development Co. climbed 4.12 percent to SR45.
Meanwhile, losses were led by Saudi Industrial Export Co., which fell 9.73 percent to SR2.69. United Cooperative Assurance Co. declined 5.08 percent to SR3.74, while Thimar Development Holding Co. dropped 4.54 percent to SR35.30.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. retreated 4.15 percent to SR48.50, and Gulf Union Alahlia Cooperative Insurance Co. slipped 3.96 percent to SR10.44.
On the announcement front, Saudi National Bank announced its intention to issue US dollar-denominated Additional Tier 1 capital notes under its existing international capital programe, with the final size and terms to be determined subject to market conditions and regulatory approvals.
The planned issuance aims to strengthen Tier 1 capital and support the bank’s broader financial and strategic objectives.
The stock closed at SR42.70, gaining SR0.70, or 1.67 percent, reflecting positive investor reaction to the capital management move.
Separately, Almasane Alkobra Mining Co. said its board approved the establishment of a wholly owned simplified joint stock company to provide drilling, exploration and related support services, with a share capital of SR100 million and headquarters in Najran, subject to regulatory approvals.
The new subsidiary aligns with the company’s strategy to enhance operational efficiency and expand its role in the Kingdom’s mining sector.
Shares of Almasane Alkobra Mining closed at SR98.70, up SR0.30, or 0.3 percent, by the end of the session.
