Tesla forced to recall almost half a million cars amidst safety concerns – shares tumble

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It was announced today that Tesla is to recall more than 475,000 of its electric cars due to issues surrounding cameras and boot locks on its vehicles. The news dropped shares in the company 1.1 percent before trading began on Thursday.

According to the US road safety regulator, the problems with the cameras and boot closing mechanisms increased the possibility of crashing.

The California-based manufacturer will recall 356,309 2017-2020 Model 3 vehicles with camera issues.

That’s in addition to 119,009 Model S vehicles with issues on the front trunk, according to the National Highway Traffic Safety Administration (NHTSA).

The total number of recalls approaching half a million cars is close to the entire number sold by the company in the previous year.

Detailing the Model 3 problems, the NHTSA stated: “The rearview camera cable harness may be damaged by the opening and closing of the trunk lid, preventing the rearview camera image from displaying,”

While for Model S vehicles, front latch problems may lead a trunk to open “without warning and obstruct the driver’s visibility, increasing the risk of a crash.”

According to the NHTSA there haven’t yet been any incidents involving either model arising from the problems identified.

However it’s the second Tesla recall this year requested by the administration.

Back in February 2021Tesla agreed to recall 135,000 vehicles because of a risk of the touch screen failing and causing an accident.

Plus in August the NHTSA opened a formal safety probe into Tesla’s driverless system ‘Autopilot’ after several crashes involving both Teslas and emergency vehicles.

And they were also investigating Tesla over 580,000 vehicles that were fitted with the ability to play video games on the large home screen while the car was in motion.

However, according to the NHTSA Tesla has now disabled that feature.

Tesla CEO Elon Musk sold a billion dollars worth of shares in the company only this week.

Musk has said he is partly selling shares to pay a massive tax bill that he anticipates will amount to at least $11 billion (£8billion).

Despite the safety issues, Tesla shares have rocketed 54 percent in 2021, making Musk the world’s richest person.

His personal wealth is now believed to stand at £200billion.

Not everyone is quite so enamoured with their Tesla however.

This week one man blew his Model S up with dynamite after being presented with a repair bill of £15,000.

Tuomas Katainen’s 2013 Model S was damaged by water leaks, requiring a new battery.

But rather than stump up the eye-watering repair fee, he exploded the car for a Youtube video.

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