Tesla Recalls 1.6M Vehicles In China Over Autosteer Concerns Just Weeks After Massive US Callback
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) is recalling over 1.6 million vehicles in China due to concerns about the misuse of its autosteer feature. The company will address the issue with a software update that reminds drivers to follow driving regulations. This follows a similar recall in the U.S. last month, which affected over 2 million vehicles.
January 05, 2024 | 9:56 am
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Tesla is recalling 1.6 million vehicles in China to address autosteer feature misuse with a software update, following a similar U.S. recall.
Recalls generally have a negative impact on a company's reputation and can lead to financial costs, though the impact may be mitigated if the solution is a simple software update. The recall is significant due to the large number of vehicles involved and the fact that it follows a similar recall in the U.S. This could affect investor confidence and potentially lead to a short-term decline in Tesla's stock price.
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