Tesla Announces Largest Recall in Company History
Citing an "abundance of caution" California automaker Tesla announced a recall of 123,000 Model S sedans Thursday.
The recall revovles around the power steering system and applies to Model S sedans built before April 2016. This announcement comes on the heels of a recall of 53,000 Model S and Model X vehicles due to problems with the parking brake.
The Silicon Valley automaker said it has received no reports of accidents or injuries connected to this latest recall, which relates to bolts in the power steering column corroding in cold climates.
Tesla technicians will replace the bolts free of charge at company dealerships. The retrofit should take roughly an hour, according to the company.
In a company statement, Tesla assured drivers they would still be able to steer the car if the bolts failed. Drivers would notice the part failure when driving at low speeds and parallel parking, Tesla told customers.
Though the NASDAQ index is closed for trading Friday ahead of Easter Sunday, Tesla shares dipped more than three percent to $266.13 in after-hours trading on Thursday after the recall was announced.
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