Tesla has recalled more than 40,000 Cybertrucks over an exterior panel that may detach while driving, increasing the risk of a crash, according to a regulatory filing Thursday, the eighth notice issued for Tesla's pickup truck while the company and CEO Elon Musk face growing protests and stock woes.
Around 3,000 workers at Tesla's German plant signed a union petition for longer breaks and more staff, even as the company said most workers were satisfied with their jobs, in a sign of ongoing strife between unions and the U.S. EV maker.
Wedbush's Dan Ives says CEO Elon Musk faces a “moment of truth,” and there two major things he has to do to fix the “crisis' at the EV giant.
Tesla Inc's (NASDAQ:TSLA) stock is in trouble, and according to Wedbush analyst Dan Ives, there's only one person who can fix it: Elon Musk. Investors have been growing uneasy as Musk's attention shifts away from Tesla, with his focus on DOGE (Department of Government Efficiency) and political entanglements creating a “brand tornado crisis”.
Although few would doubt the genius of Tesla Inc TSLA CEO Elon Musk, even the world's richest man is not immune to severe – and potentially crippling – criticism. Due to significant headwinds impacting the electric vehicle manufacturer, Musk's net worth suffered a sizable erosion.
Tesla is recalling just over 46,000 Cybertrucks. It's the eighth recall for the vehicle since it went on sale in late 2023.
Dan Ives warns company is in ‘brand tornado crisis moment' as protests are planned at car showrooms
Tesla is recalling the vehicles over issues of the cant rail - a stainless-steel exterior trim panel - delaminating and detaching from the vehicle, it said.
Tesla is recalling 46,096 Cybertruck vehicles in the U.S. over an exterior panel that can detach while driving, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Thursday.
Maybe the EV maker's sales haven't been hurt as much by Elon Musk's political activities as investors fear.
Investors have raised their valuation of X (formerly Twitter) back to $44 billion, the amount Elon Musk originally paid for the platform in 2022. This marks a sharp recovery after previous estimates suggested its worth had dropped by 80%.
Wedbush Securities analyst Dan Ives has consistently been bullish on Tesla. But Ives said the company is in a "crisis" that only Elon Musk can solve.