Toyota, Subaru Shares Drop on ‘Embarrassing’ Recalls of First EVs

Toyota, Subaru Shares Drop on ‘Embarrassing’ Recalls of First EVs
Visitors check a Toyota BZ4X Concept electric vehicle (EV) during its world premiere on a media day for the Auto Shanghai show in Shanghai on April 19, 2021. Aly Song/Reuters
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TOKYO—Toyota Motor shares slipped after it recalled some of its first mass-made all-electric cars, launched two months ago, because of a risk of wheels coming loose, a setback to its ambitions to electrify its model range.

Toyota, the world’s largest automaker by sales, said on Thursday it would recall 2,700 bZ4X SUVs globally.