Tesla has issued a recall for nearly half a million electric vehicles due to safety concerns. However, the stock is down 6/10 of a percent today, which isn't awful. It's a significant event. With half a million cars recalled in the United States, the firm is under even more unwanted scrutiny. Let's have a look at it in more detail.
Because of a rear camera issue, the Model 3 was recalled in 356,000 units. The National Highway Traffic Safety Administration (NHTSA) is saying, "The rearview camera cable harness may be damaged by the opening and closing, preventing the camera from operating properly." It's a nuisance, but it's not always harmful. However, in rare circumstances, it may be the case.
The bigger issue is the 120,000 Model S sedans that have been recalled owing to a front hood defect. The Model S, like the Model 3, now lacks a front-mounted engine. In the front, there's a trunk. Tesla also claims that the front hood may open unexpectedly, obstructing the driver's view.
This is significant since the hood could pop while you're going down the street. As a result, you can't see anything, which is quite dangerous. Tesla claims that this has not yet occurred. However, they are anxious, and rightly so.
The NHTSA is presently investigating the company for allowing passengers to play video games while driving. The driver could theoretically play video games while the automobile is moving. So Tesla decided to stop that feature, and then there's the auto-pilot enquiry, which involves cars colliding with emergency vehicles parked at crash sites.
Traditional OEMs are chasing the likes of Tesla, Lucid, Fisker, Faraday Future Neo, and XPeng. Will they be able to pivot quickly enough before they run out of time? And perhaps the Teslas of the world have too much lead time.
At CES 2022, there will be a lot of new things to view. Automakers, on the other hand, have been rising in recent years. They're demonstrating their high-tech capabilities. The Silverado EV will be on display this year, according to GM. Fisker will demonstrate some of its most recent autonomous driving technology.
Chevrolet's Silverado EV
Take a good look at Lucid Motors. That's a 291 percent increase, followed by Lordstown Motors, which is down 81 percent. A lot of these stocks simply peaked at the beginning of the year and just fell from there. Lucid just started making cars. Stock is up almost 300%. It's the top-performing NASDAQ stock this year. Lordstown on the other hand have had all kinds of problems and they have to actually sell their factory to Foxconn.
Counting Down to CES® 2022
The countdown to CES is on, and the anticipation is mounting! Hundreds of thought leaders from across the world, as well as over 2100 exhibiting firms – with more being added every day – are ready to show you how technology has never been more vital in our lives.
Technology is paving the path to safer roadways with features like adaptive cruise control, accident prevention, and lane guiding. Visitors can discover what motivates the development of concept cars, connected vehicles, and self-driving vehicles. At the eMobility Experience, you can see the latest electric bike and scooter innovations. Over 50 prominent bike and scooter brands, accessories, and part suppliers can be found on the 65,000 square foot test track.
The industry will meet in Las Vegas from January 5-8, marking the first time in two years that CES will be held in person.