Japanese auto giant Toyota (TM) is pulling its flagship electric vehicle (EV) model from the market due to a safety issue. Toyota shares slipped 1% in regular trading on June 23, following the recall announcement. However, the stock bounced back during the after-hours trading session, rising 1.64% to settle at $160.10. The stock has retreated 15% year-to-date. The recall targets Toyota’s 2023 bZ4X SUV model, which hit the market less than two months ago. The car runs on battery power and can drive more than 250 miles on a single charge. The car’s starting price is $42,000.
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Toyota Motor (NYSE:TM)
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