Tesla Stocks Dip as EV Giant Recalls Close to 6,000 Cars | #site_titleTesla Stocks Dip as EV Giant Recalls Close to 6,000 Cars

Tesla Stocks Dip as EV Giant Recalls Close to 6,000 Cars

Tesla Inc. (NASDAQ: TSLA) recalls close to 6,000 cars due to loose brake caliper bolts. Loose brake caliper bolts may lead to a loss of air pressure in the cars’ tires. Tesla stock dropped 3.1% during the early afternoon trading.

The Company was made aware of this issue back in December 2020 when there was a field incident consisting of a 2021 Model Y missing a fastener on the driver-rear side brake caliper. An internal review was launched by the Factory Quality and Service Engineering teams from January to April 2021. The Factory team confirmed the suspect root cause and affected car population in May 2021 which resulted in the recall determination on May 18, 2021.

The 5,974 Tesla vehicles recalled were the 2019-2021 Model 3 and the 2020-2021 Model Y. According to Tesla’s National Highway Traffic Safety Administration Safety Recall Report, there are no known crashes or injuries related to this loose brake caliper bolt issue.

The Company plans on inspecting and tightening or replacing faulty caliper bolts as necessary free of charge to their owners.

This recall incident is not new to the EV giant as there was a major recall back in early February involving over 171,077 vehicles in the U.S. and China due to an issue over touch-screen failures caused by an eMMC flash storage problem.

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