News

Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Tesla Recall

Tesla (NASDAQ:TSLA) says it will recall 53,822 U.S. vehicles with the company’s Full Self-Driving (Beta) software that may allow some models to conduct "rolling stops" and not come to a complete stop at some intersections posing a safety risk.

The U.S. National Highway Traffic Safety Administration (NHTSA) said the recall covers some 2016-2022 Model S and Model X, 2017-2022 Model 3, and 2020-2022 Model Y vehicles. NHTSA said the feature also known as FSD Beta may allow vehicles to travel through an all-way stop intersection without first coming to a stop.

Tesla will perform an over-the-air software update that disables the "rolling stop" functionality, NHTSA said.

Last week, Tesla said the number of FSD beta vehicles in the United States increased to nearly 60,000 from a few thousand at the end of September. Tesla has been testing the improved version of its automated driving software on public roads, but the carmaker and the regulator have said the features do not make the cars autonomous.

Tesla said as of Jan. 27 it was not aware of any warranty claims, crashes, injuries or fatalities related to the recall.

Tesla told the auto safety agency it released on Oct. 20 an updated version to introduce the "rolling stop" functionality. The automaker said to use the feature vehicles must be traveling below 5.6 miles (9 km) per hour and no relevant moving cars, pedestrians or bicyclists are detected near the intersection.

TSLA shares declined $20.10, or 2.2%, to $916.62, to kick off Tuesday.