Tesla Recalls More Than 80,000 Vehicles In China
Electric vehicle maker Tesla (TSLA) is recalling more than 80,000 cars in China over software and seatbelt issues.
Specifically, Tesla is recalling 67,698 Model S and Model X vehicles produced between September 25, 2013, and November 21, 2020. That recall is due to a software issue that affects the battery management system in the cars.
The automaker is also recalling more than 12,800 Model 3 vehicles produced between January 12, 2019, and November 22, 2019 due to potentially faulty seatbelts.
This is not the first time that Tesla has had to recall its vehicles in China. In May of this year, the company recalled more than 100,000 cars due to an overheating issue.
China is one of Tesla's most important markets. The company has a major production factory in Shanghai and has been selling a record number of vehicles in the country of 1.4 billion people.
But Tesla faces rising competition in China from domestic electric vehicle makers. In October of this year, Tesla lowered the price of its Model 3 and Model Y vehicles in China.
Tesla's stock is down 54% this year at $183.20 U.S. per share.
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