Market News

Tesla Recalls 30K Vehicles; Musk Has His Successor at Tesla in Mind

EV maker Tesla (NASDAQ:TSLA) is recalling nearly 30,000 vehicles owing to issues with airbag deployment.

The recall involves vehicles of Model X as the issue poses injury risks since airbags of passengers in the front can have incorrect deployments during crashes at low speeds. The company is working towards correcting the error and the issue has not caused any reported injuries so far.

Separately, in court testimony, Mr. Elon Musk has noted that he plans to find a new person to be at the helm of his recent $44 billion Twitter acquisition.

Tesla’s Director James Murdoch has also noted that Mr. Musk already has someone in mind to take his place at Tesla as well.   

Tesla shares have now tanked nearly 55% so far this year. Morgan Stanley’s Adam Jonas though, believes weakening sentiment in the stock could mean a lucrative opportunity for investors.

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