Just over 40,000 Tesla vehicles are being recalled in the US due to a potential power-steering issue. The electric car maker owned by Elon Musk warns that potholes or uneven roads could cause the vehicles' power-steering assist system to malfunction. According to the National Highway Traffic Safety Administration, it can necessitate more steering effort, especially at slow speeds, raising the danger of an accident.
To re-calibrate the system, Tesla has made a software update available. It stated that it was not aware of any accidents or fatalities related to the issue. However, 314 vehicle warnings for US-market cars and trucks that could be included in the recall have been issued. The 2017–21 Model S and Model X automobiles are subject to recall. Tesla claimed that more than 97% of the recalled vehicles had already received an update that resolved the problem.
Additionally, Tesla is recalling 53 external side rearview mirrors for the 2021 Model S that were made for the European market and do not meet American "rear-visibility" standards. Tesla has notified 3.4 million vehicles about 17 recalls in 2022. It recalled roughly 1.1 million vehicles in the US in September due to the possibility that the windows could close too quickly and snag people's fingers.
Production at Tesla Gigafactory in Shanghai
The Twitter Effect
Musk reportedly teamed up with Tesla software developers to examine the inner workings of the social media site after purchasing Twitter. However, it appears that his other business endeavors are suffering because of Tesla investors continuing to sell off stock. In New York on Monday, its shares dropped 5% to settle at $197.08 (£172.41), its lowest price since June 2021. Investors are rumored to be worried that the billionaire has gotten preoccupied with his most recent acquisition and is giving his other businesses less attention.
Following the completion of his $44 billion acquisition of Twitter, Elon Musk sold at least an additional $3.95 billion worth of Tesla shares. Tesla shares valued at about $22 billion were sold by Musk in 2021, a year in which the stock appreciated by over 50%. He sold Tesla stock for over $8 billion this year in April and another $7 billion worth in August.
In addition to investing billions of his own dollars to take Twitter private, Musk also enlisted the help of partners to fund the transaction or transfer their existing shares into his holding company for Twitter, including equity investors Binance, Ron Baron's BAMCO, Andreessen Horowitz, Jack Dorsey, the former CEO of Twitter, and Prince Alwaleed bin Talal bin Abdulaziz of Saudi Arabia.
The Prince Connection
Then there are those who, in the wake of Musk's takeover of Twitter, are demanding an investigation into the potential effects Saudi Arabia's investment on national security.
Kingdom Holding Company of Saudi Arabia and Prince Alwaleed Bin Talal's private office announced on Twitter that they would continue to control shares of Twitter, which were purchased by Elon Musk for $1.89 billion. After Elon Musk's $44 billion acquisition of Twitter was completed on Thursday, Saudi Arabia's Prince Alwaleed bin Talal bin Abdulaziz declared in a Securities and Exchange Commission filing that he had surpassed Musk as Twitter's second-largest shareholder.
The national wealth fund of Saudi Arabia, which is headed by crown prince Mohammed Bin Salman, owns 16.9% of Alwaleed's Kingdom Holding. After placing a significant winning wager on Citigroup Inc. (C.N) in the 1990s, Prince Alwaleed bin Talal gained international notoriety. He was also an early investor in Apple Inc.
Musk, who is also the CEO of SpaceX, asserted on stage that if Twitter is on the proper track, he believes it will be far simpler to run than his other businesses. Although Musk hasn't named the new CEO of Twitter, he has hinted that his position as the company's only director and "Chief Twit" is only temporary.
Latest Feature Coming
According to the app developer behind the teleconferencing boom, Tesla drivers will soon be able to participate in remote meetings from their cars. The ability to participate in a virtual meeting from a Tesla will soon be available for all new types of electric vehicles, a Zoom executive announced on Tuesday at an annual conference.
The product manager for Zoom's meetings division also demonstrated the Zoom app on a Model Y, ostensibly using the cabin camera above the rearview mirror. Tesla owners' in-car calendars will allow them to join a Zoom meeting.