China Orders Recall of 2.98M Teslas Over Hidden Door Handles
TSLA sits 21% above its 52-week low of $297.38.
Summary
China has ordered a recall of more than 4 million vehicles over concerns about retractable door handles, including 2.98 million Chinese-made Teslas. The recall affects Model 3, Y, S, and X vehicles because the handles are difficult to identify and operate when their color matches the interior trim. Tesla will add warning labels and issue a software update to automatically lower windows after a collision. This follows a Chinese ban on hidden door handles announced in February, with new rules effective January 1, 2027 requiring mechanical releases. The recall is significant for Tesla's China operations, a key market, and could impact sales and regulatory compliance costs.
At the time of this announcement, TSLA was trading at $361.27 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.4T. The 52-week trading range was $297.38 to $498.83. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Binance News.