Tesla's Musk admits Model 3 braking issue, promises fix
Source: Reuters
Tesla Inc Chief Executive Officer Elon Musk has sought to play down a report identifying "big flaws" in its Model 3 sedan, admitting there is a braking issue with the vehicle but saying it will be fixed with a software update within days.
Responding to a review by influential U.S. magazine Consumer Reports which stopped short of recommending the car, Musk said in a round of tweets late on Monday that the magazine's tests - which used two separately-sourced vehicles - had been of older versions of the car that had already been improved upon.
The issue, which ate into gains for Tesla shares on Monday, came at a time when Tesla is dealing with reports of crashes involving its vehicles and growing scepticism over its finances.
Tesla stock, down around $100 dollars since last September, gained around 1 percent on Tuesday, having finished almost 3 percent higher on Monday, helped by an easing of trade tensions with China which may aid its plans to produce there.
Read more: https://finance.yahoo.com/news/teslas-musk-admits-model-3-103855989.html
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