Market Pulse Archives

Oct. 23, 2020, 12:25 p.m. EDT

Tesla recalls older Model S, Model X vehicles in China: report

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Tesla Inc. (TSLA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Claudia Assis

Tesla Inc. /zigman2/quotes/203558040/composite TSLA +2.49% is recalling about 30,000 older, U.S.-made Model S and Model X vehicles in China due to suspension problems, Bloomberg reported Friday. The vehicles were made between Sept. 17, 2013, and Jan. 15, 2018, Bloomberg said, citing a statement from Chinese authorities. A Tesla representative in China declined to comment, Bloomberg said. China is the linchpin of Tesla's expansion plans, and the company said this week it had increased Model 3 production capacity at its Shanghai factory to 250,000 vehicles a year. It also cut the Model 3 price in China to make it the cheapest premium mid-size sedan in that country, and added a third shift at the China factory. Tesla on Wednesday reported better-than-expected third-quarter adjusted profit and sales, and the stock surged. The shares gave back some of those gains on Friday and were down around 6% for the week. For the year, the stock is up 391%, compared with an advance around 7% for the S&P 500 index. /zigman2/quotes/210599714/realtime SPX +0.75%

/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 534.84
+12.99 +2.49%
Volume: 8.83M
Nov. 24, 2020 9:56a
P/E Ratio
1,073
Dividend Yield
N/A
Market Cap
$494.66 billion
Rev. per Employee
$511,871
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,604.30
+26.71 +0.75%
Volume: 472.61M
Nov. 24, 2020 9:56a
loading...

Get news alerts on Tesla Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.