Tesla recalls 123K Model S cars over potential power steering failure
- Author: Zachary Reyes Mar 30, 2018,
Mar 30, 2018, 20:00
Should one of the bolts fail, the driver would need to use "increased force" to steer the auto at lower speeds, just like driving a vehicle without power steering.
Moody's and other analysts have predicted Tesla will soon have to sell more shares to replenish cash reserves and pay for expansion of Model 3 production and new vehicles such as the Tesla Semi electric commercial truck and a compact sport utility vehicle.
The stock then fell in after-market trading after the carmaker said it would voluntarily recall all Model S cars built before April 2016 to retrofit a power-steering component. This would make it harder to steer in traffic and while parking the auto.
Tesla's long-term viability depends on selling billions of dollars of Model 3s, its new sedan that starts at $35,000.
Tesla said there were no accidents or injuries related to the issue and the recall, according to an email sent to customers.
A missing or damaged safety shield on the end of a California freeway barrier worsened the impact of a crash involving a Tesla SUV that killed a man last week, the electric auto maker said on its website. It previously recalled about 90,000 of the sedans because of a faulty rear seatbelt and a year ago called back 50,000 Model S sedans and Model X SUVs because of a problem with their parking brakes.
The Palo Alto, California-based company led by Elon Musk is advising Model S customers that no immediate action needs to be taken and that they may continue to drive their cars. These are the payments to American shareholders approved the company after the vote at the meeting, despite the record loss incurred by Tesla in 2017.
National Transportation Safety Board spokesperson Christopher O'Neil said in a phone call Thursday that the federal agency was investigating the crash, mostly looking into the fire after the crash and how the vehicle was transported and removed from the scene.
Tesla has continued struggling to boost Model 3 production, in part due to faulty parts.
In April of previous year, Tesla recalled certain 2016 Model S and Model X vehicles.