Tesla recalls older Model S, Model X vehicles in China: report

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Tesla Inc. is recalling about 30,000 older, U.S.-made Model S and Model X vehicles in China due to suspension problems, Bloomberg reported Friday. The vehicles were made between Sept. 17, 2013, and Jan. 15, 2018, Bloomberg said, citing a statement from Chinese authorities. A Tesla representative in China declined to comment, Bloomberg said. China is the linchpin of Tesla’s expansion plans, and the company said this week it had increased Model 3 production capacity at its Shanghai factory to 250,000 vehicles a year. It also cut the Model 3 price in China to make it the cheapest premium mid-size sedan in that country, and added a third shift at the China factory. Tesla on Wednesday reported better-than-expected third-quarter adjusted profit and sales, and the stock surged. The shares gave back some of those gains on Friday and were down around 6% for the week. For the year, the stock is up 391%, compared with an advance around 7% for the S&P 500 index.
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