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After the recall: Tesla shares are losing value

After the recall: Tesla shares are losing value

The electric car maker Tesla recalled 475,000 vehicles on Thursday due to technical problems. On Wall Street, the stock fell 1.3 percent – a major setback for Elon Musk’s company.

Fabian Gernjak
30 December 2021 18:57

Technical problems at Tesla resulted in a recall of 475,000 vehicles. (eXXpress reported). The venture is a major setback for Elon Musk’s company. On Wall Street, the stock fell 1.3 percent on Thursday.

Model 3 and Model S affected

475,000 vehicles from the Model 3 and Model S series had to be recalled. This number corresponds to the number of all vehicles Tesla will deliver worldwide in 2020. Tesla had recently made whopping profits in the billions and also had sales rise sharply. Elon Musk’s group is currently building its first European factory in Germany near Berlin.

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