Toyota, Subaru shares drop after EV recall announcements

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Reuters UK

(Reuters) – Shares of Toyota Motor Corp and Subaru Corp dropped on Friday after the two Japanese car makers announced recalls of their first mass-produced electric vehicles (EV) for the global market because of a risk the wheels could come loose. The recall by Toyota of 2,700 units of the bZ4X SUVs, rolled out less than two months ago in Japan, is a setback to the world’s largest automaker by sales, as it seeks to take on larger EV rival Tesla Inc. A Toyota spokesperson said on Thursday not every model was subjected to the recall but declined to say how many it has built overall. Subaru also s…

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