Tesla Releases Software Update for 1.8 Million Vehicles to Address Hood Malfunction

The National Highway Traffic Safety Administration (NHTSA) announced that Tesla will issue a software update on approximately 1.8 million vehicles in the U.S. due to a software failure not detecting an unlatched hood. The recall affects certain models of Tesla’s electric vehicles. A software glitch could cause the hood to remain unlatched, increasing the risk of a crash. Tesla plans to notify affected vehicle owners by September 22. Morgan Stanley reaffirmed an Overweight rating on Tesla’s stock and named it their “New Top Pick” in the U.S. automotive sector. Elon Musk hinted that the upcoming Roadster model may be capable of flying during the “X Takeover” event. Tesla recently reported second-quarter earnings results.