Hyperdrive
Tesla Sinks as Report Casts Further Shadow on China Sales
- Orders from Asian country tumbled in May: The Information
- Company recalls Model 3, Model Y units on seatbelt issues
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Tesla Inc. shares tumbled on a report that the electric-car maker’s Chinese orders dropped by almost half in May.
The stock, which was already down more than 30% from the late January peak through Wednesday, fell 5.3% Thursday. The shares also slipped after a U.S. regulator disclosed recalls of more than 5,500 Model 3 and Y vehicles as well as almost 2,200 Model Ys over separate seat-belt flaws.