Proactive Investors - Tesla Inc (NASDAQ:TSLA) is to recall more than 321,000 vehicles over software issues that cause the rear lights to function improperly, adding to a long list of technical problems the company has had recently.
Further problems in Tesla’s vehicles add to the current ongoing woes of chief executive Elon Musk, who has recently been under scrutiny from investors for taking on too much.
Aside from facing a court case which has seen him attempting to justify a US$56bn pay packet from Tesla in 2018 to investors, Musk’s takeover of Twitter Inc (NYSE:NYSE:TWTR) has also been targeted for potentially diverting his focus from the electric vehicle giant at a time when it needs him most.
Musk confirmed investor’s worries, which called him to “end his Twitter madness now,” when he admitted he felt he currently had too much on his plate.
With rising competition across the world, Tesla’s recent recalls mark continued struggles for the company, which has seen its share price fall to a two-year low of US$180.
After a US National Highway Traffic Safety Administration (NHTSA) filing was made public on Sunday, Tesla has begun moving to fix the most recent issue, which sees its cars’ taillights sometimes fail to come on.
Issues with airbags and power steering saw Tesla recall around 70,000 of its Model X and S cars in November, with total Tesla recalls raising to around 3.7mln units over the course of 2022, according to NHTSA.
Tesla shares were down 1.6%, having fallen by nearly 55% so far this year.