Tesla recalling 53000 vehicles worldwide for brake problem

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Image Source Wikipedia

Tesla Inc. (NASDAQ: TSLA) announced Wednesday afternoon that it is recalling 53,000 Model S sedans and Model X sport utility vehicles to resolve a problem with the vehicles' electric parking brakes.

The Elon Musk-led electric auto manufacturer apologised for the issue, which it blamed on a small gear provided by a third-party supplier.

If this gear were to break, the parking brake would continue to keep the vehicle from moving, but the parking brake would then be stuck in place.

A voluntary global recall has been issued by Tesla to fix problem of parking brakes in some of its cars like Model S and Model X.

The recall equates to roughly two-thirds of the 84,000 vehicles Tesla manufactured past year.

The recall affects cars sold worldwide, built from February and October 2016.

Tesla said the issue has not caused any injury and owners are safe to continue using their vehicles. An appointment will be scheduled at local service centers from where parts can be replaced with an estimated time of 45 minutes given by the company.

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The company stated that they have "determined that only a very small percentage of gears in vehicles built during this period were manufactured improperly". If you own one of the vehicles experiencing the parking brake issue, you can contact Tesla at ServiceHelpNA@tesla.com.

The recall covers about 63% of the roughly 84,000 vehicles Tesla manufactured in 2016.

Shares of the USA luxury electric vehicle maker dropped 1.3 percent to $301.50 in afternoon trading.

"Service capacity will not be an issue", a Tesla spokeswoman said in an email, noting that the mobile technicians will be able to handle the fix. The recall was performed "out of an abundance of caution", a company statement says.

Drivers who may be affected by the recall are being asked to voluntarily bring their cars in to be serviced.

Tesla stock fell 1% to 302.51 in the stock market today.

The company issued a voluntary recall in November 2015 for almost 90,000 Model S sedans for a balky seat belt.

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