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Germany recalls Tesla models due to emergency fault

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Tesla is in the spotlight again, with Germany’s road traffic agency recalling models Y and 3 due to a fault in the automatic emergency call system

It’s a fault that could possibly impact around 59,000 vehicles globally.

Germany’s watchdog says a software flaw is causing a breakdown of the e-Call, a system designed to alert authorities after a serious accident.

The glitch follows the company delivered almost 18 per cent fewer electric vehicles in the second quarter than in the previous.

This is largely due to China’s Covid-19-related shutdowns and the ongoing supply chain crunch.

Meanwhile, CEO Elon Musk says Tesla’s new factories in both Texas and Berlin are “losing billions of dollars”.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

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Companies to pay extra for verified Twitter accounts

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Elon Musk has announced that companies and brands will have to pay $1,000 per month – plus an additional $50 per sub-account – to get verified check-marks on Twitter

The new pricing falls under the new Twitter Blue for Business service.

Within the next few months, only paying Twitter customers will have verified status.

Twitter has stacked on $12.5 billion in debt, and this move hopes to increase subscription revenue to meet Musk’s obligations.

Advertisers halted spending on Twitter after the takeover, but Twitter has since announced partnerships with two brand-safety vendors to win back marketers.

Musk also announced that Twitter would start sharing ad revenue with creators for “ads that appear in their reply threads”, but didn’t provide further detail.

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BMW to invest €800 million in Mexico

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BMW is set to invest €800 million in Mexico, to produce its next generation of high-voltage and fully electric batteries

 
The carmaker is looking to convert more than half of its sales into all-electric cars by 2030.

Construction will begin next year with production beginning in 2027.

The announcement follows several other major expansions from the automaker in recent months, including a $1.7 billion investment in the United States.

The move will add around 1,000 new jobs to its Mexico operations.

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A British digital currency “later this decade”

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The Bank of England and Britain’s finance ministry think the UK is likely to need to create a central bank digital currency later this decade.

“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” the Telegraph quoted BoE Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report.

“It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified,” the Telegraph quoted the report saying.

The BoE declined to comment on the Telegraph article, but said a joint consultation on CBDC issues would be published shortly.

A government source said the report would be published next week.

BoE Deputy Governor Jon Cunliffe is due to give a speech on Tuesday to update the finance industry on the BoE’s CBDC work.

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