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Stock impact report

Toyota recalls electric car for faulty wheel that may detach [CBS News]

Toyota Motor Corporation (TM) 
US:NYSE Investor Relations: toyota-global.com/investors
Company Research Source: CBS News
Toyota Motor said Friday the cause is still under investigation, but the whole wheel could come off, risking a crash. "Until the remedy is available, no one should drive these vehicles," the company said in a statement. Among the vehicles subject to the latest recall, about 2,200 were destined for Europe, 270 for North America, 112 for Japan, and 60 for the rest of Asia, according to Toyota. They were produced between March and June. The bZ4X, which went on sale about two months ago, is a key model in Toyota's plans to strengthen its electric lineup. Toyota is planning to have 30 EV models by 2030, selling 3.5 million electric vehicles globally that year. Toyota is also investing 2 trillion yen ($17.6 billion) in battery research and development to achieve such goals. The "bz" in the recalled model's name, as well as others in the works, stands for a "beyond zero" series, including sport-utility vehicles of all sizes, pickup trucks and sportscars, according to Toyota. The Show less Read more
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