Stock News

Tesla recalling nearly 500,000 electric vehicles due to safety concerns

Listen to this Article Now
Getting your Trinity Audio player ready...
Spread the love

Tesla (NASDAQ: TSLA) Inc is recalling more than 475,000 of its Model 3 and Model S electric vehicles to address rearview camera and trunk issues that increase the risk of a crash, according to the US National Highway Traffic Safety Administration on Thursday.

While investigating the company’s driver assistance system, the National Highway Traffic Safety Administration (NHTSA) has been discussing another camera issue with the automaker. The model years affected in the recall range from 2014 to 2021, and the total number of recalled vehicles is nearly equal to the half-million vehicles delivered by Tesla last year. According to the country’s market regulator, approximately 200,000 Tesla vehicles will be recalled in China. According to the federal regulator, the U.S. electric vehicle manufacturer is recalling 356,309 2017-2020 Model 3 vehicles due to rearview camera issues and 119,009 Model S vehicles due to front hood problems. Tesla was unable to be reached for comment.

The NHTSA stated that for Model 3 sedans, “the rearview camera cable harness may be damaged by the opening and closing of the trunk lid, preventing the rearview camera image from displaying.”

Tesla identified 2,301 warranty claims and 601 field reports related to the issue for vehicles sold in the United States. Latch issues in Model S vehicles may cause a front trunk to open “without warning and obstruct the driver’s visibility, increasing the risk of a crash,” according to Tesla. According to the NHTSA, Tesla stated that it was not aware of any crashes, injuries, or deaths related to the issues cited in the Model 3 and Model S recalls. Tesla shares fell as much as 3% in the morning before recovering and closing slightly higher at $1,088.76. As early as Saturday, the world’s most valuable automaker is expected to report record quarterly vehicle deliveries.

Tesla will recall nearly 200,000 vehicles in China, according to the country’s market regulator, including 19,697 imported Model S, 35,836 imported Model 3, and 144,208 China-made Model 3. According to Tesla, these electric vehicles manufactured between 2015 and 2020 are being recalled due to potential security risks such as sudden opening of the trunk lid during movement.