3 Things You Need To Know About Tesla This Week: Recall, Lawsuit And Promising Leasing Opportunity
April 21, 2017 - 8:30am
Tesla Inc (NASDAQ: TSLA) of late has been transforming into an investors' darling. A telling proof for this claim is the company's market capitalization recently surpassing that of General Motors Company (NYSE: GM) — however, GM is back on top, thanks to the former's pullback from an all-time closing record of $312.39 reached on April 10.
It is not without rhyme or reason that investors are flocking to Tesla. The immediate catalyst is the launch of its mass-market Model 3 electric vehicle. In early April, Tesla pre-announced better-than-expected first-quarter deliveries forecast.
Ethically Yours: Tesla's Voluntary Recall
Telsa announced it is voluntarily recalling 53,000 of its Model S hatchback and the Model X crossover vehicles, with 31,000 of those earmarked for the recall located in the United States.
The reason? The electric parking brakes failed to release, resulting in a small gear in the parking brakes becoming fractured.
The remedy? The company has promised to replace the brakes in all affected vehicles. A CNET report said the replacement would take less than 45 minutes and that the company hopes to have replacement ...Full story available on Benzinga.com
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