Economy

Tesla recalling 53000 vehicles worldwide for brake problem

Tesla recalling 53000 vehicles worldwide for brake problem

Supercharger by the American vehicle company will allow an owner of the Model S 90D - the manufacturer's first EV model to hit the Korean market this year - to charge the vehicle's battery up to 50 percent in 20 minutes. The brakes contain a small gear that, if fractured, could prevent the brake from releasing, and thus the vehicle from being able to move. The main supplier of parking brakes to Tesla is Brembo, an Italian company.

"While less than 5% of the vehicles being recalled may be affected by this issue, we are recalling 53,000 vehicles total out of an abundance of caution", Tesla writes. Tesla said there has been no reports of the parking brake system failing but made a decision to proactively change the parts.

The recall applies to vehicles built in 2016, between February and October. The electric parking brakes in the cars and crossovers may contain a small gear that could break when the parking brakes are engaged.

Shares in the United States auto maker dipped 1.12 per cent at $302.08 on the news. The automaker is mailing an official recall notice to owners, telling them how to get the parking brakes replaced.

"In order to be overly cautious, we are going to be proactively replacing these parts to ensure that no issues arise", said Tesla, according to the report.

You never know which way a stock will head in a moment, but at least one analyst covering Tesla thinks the 1% drop is even further than makes sense.

In a statement, a representative from the company supporting the strike, IG Metall, said "We received an unsatisfactory response from the company".

Shares in the company fell 1pc, closing at $302.51 (£235.96) following the announcement. In 2010, it also recalled certain models of 2010 Roadster 2.0 and 2.5 vehicles in the US. Tesla manufactured 83,922 cars throughout the last calendar year. The recall, which affected 439 cars, reported possible issues on its 12v low voltage auxiliary cable.

In November 2015, Tesla recalled 90,000 Model S cars because of a single report of a seat belt not being properly connected.


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