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Tesla hits speed bump with huge vehicle recall

Published

5 years ago

June 28, 2021

Tesla forced to recall more than a quarter of a million electric vehicles in China over safety concerns.

Tesla is recalling more than a quarter of a million Model 3 and Model Y sedans built in China over safety concerns around the ‘cruise control’ feature.

The huge recall amounts to the majority of Tesla vehicles cars produced and sold in the country. Most of the affected Model 3 and Model Y vehicles were from Tesla’s Shanghai plant.

Cruise control safety concerns

China’s market regulator says the vehicles’ cruise control systems could be accidentally activated, causing them to speed up unexpectedly.

However, the recall doesn’t necessarily mean any of the affected vehicles will actually need to physically go to a service centre for repairs.

Rather, owners can upgrade their vehicles’ cruise control systems software remotely, similar to a phone update.

https://twitter.com/kimpaquette/status/1408775734777335811?s=20

Tesla’s market in China

Tesla posted an apology to its page on Weibo, a popular social media platform in China.

CEO Elon Musk also posted Weibo on Saturday, “Safety is our primary goal in designing Tesla.”

China is the largest new car market in the world and the largest market for all-electric vehicles. Ives has called the country the “linchpin” of Tesla’s growth story. He calculates that China will account for 40% of Tesla deliveries by next year.

Related Topics:electric vehicles Technology tesla trending

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U.S. stocks falling amid AI worries and weak earnings

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

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1 day ago

February 13, 2026

Harvey Vargas

U.S. stocks decline amid AI concerns, defensive sectors rising; traders eye commodities, jobs data, and currency trends for insights.

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For traders, commodities like gold and oil are also playing a role in sentiment, providing hedges amid market uncertainty. The January jobs report and unemployment data are adding further context, with potential implications for Federal Reserve policy.

Market expectations for rate cuts are shifting as investors weigh economic indicators against global market dynamics. Traders are also eyeing currency movements, including the Australian Dollar and Japanese yen, for signs of broader economic trends.

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Wall Street tumbles as tech stocks face AI disruption fears

Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

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1 day ago

February 13, 2026

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Wall Street falters as tech stocks dive amid AI anxieties; 2026 seen as critical for proving AI investment returns.

Wall Street took a sharp hit as tech stocks plummeted amid growing investor anxiety over artificial intelligence. Markets reacted strongly to uncertainty about how AI could disrupt major sectors, leaving investors on edge. Kyle Rodda from Capital.com explains why investors are nervous about what’s ahead.

Cisco Systems’ quarterly results added to the market jitters, while defensive sectors gained attention as investors sought safer bets. Analysts describe 2026 as a ‘prove it’ year for AI, with companies needing to demonstrate real returns on their ambitious investments.

The January Consumer Price Index report and rising concerns over AI’s impact on transportation companies further weighed on sentiment. Investors are now closely watching major tech firms for signals on how AI spending will shape future market performance.

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U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

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2 days ago

February 12, 2026

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January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

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