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Tesla recalls 123,000 sedans over power steering issue

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Capital Markets View – January 2021


Tesla recalls 123,000 sedans over power steering issue

Tesla Inc. is recalling all Model S sedans manufactured before April 2016 to repair a power steering part, according to a Bloomberg report.

The move, a result of "excessive corrosion in the power steering bolts, though only in very cold climates, particularly those that frequently use calcium or magnesium road salts," affects nearly 123,000 vehicles worldwide, the report said, citing an email sent to affected customers.

The email said that "Tesla plans to replace all early Model S power steering bolts in all climates worldwide to account for the possibility that the vehicle may later be used in a highly corrosive environment."

Tesla said the power steering problem has not caused any accidents or injuries, adding that customers need not take any immediate action, according to the report.

The automaker has also advised Model S customers that they can continue driving their Model S cars until Tesla contacts them and schedules an appointment as power steering components become available in their region.