EV maker Tesla (NASDAQ:TSLA) has been asked to recall nearly 1.1 million cars in China over risks associated with the acceleration and braking systems in some models, according to the New York Times.
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The recall involves Model S, Model X, Model 3, and Model Y vehicles and comes after an investigation related to a reported defect. The defect could potentially result in collisions and the company is working on fixing the issue via a software update.
Separately, Tesla has jacked up vehicle prices for the third time this year in the U.S. and the company’s CEO Elon Musk is bringing in NBC Universal’s Linda Yaccarino as the new CEO of Twitter, according to the Wall Street Journal.
Mr. Musk noted that the new CEO will be starting in six weeks and he will transition into the role of Executive Chair and CTO as a result.
Overall, the Street has a $203.64 consensus price target on Tesla alongside a Moderate Buy consensus rating. Shares of the company have gained nearly 59% so far this year.
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