Tesla Inc. shares slid 0.8% in premarket trade Tuesday, after the company announced a safety recall of certain vehicles because of an issue with its “rolling stop” functionality. “The “rolling stop” functionality available as part of the Full Self-Driving (Beta) software may allow the vehicle to travel through an all-way stop intersection without first coming to a stop,” the National Highway Traffic Safety Administration said in a statement.
The recall covers 53,822 vehicles, including certain 2016-2022 Model S and Model X cars, 2017-2022 Model 3s, and 2020-2022 Model Y vehicles. Tesla will perform an over-the-air (OTA) software update that disables the “rolling stop” functionality, free of charge. Owner notification letters are expected to be mailed March 28, 2022, but owners can also contact Tesla customer service at 1-877-798-3752. Shares have gained 12% in the last 12 months, while the S&P 500 has gained 19.7%.
