Saturday, 20 October, 2018

Tesla recalls 123000 Model S sedans over faulty steering component

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Jean Garcia | 31 March, 2018, 05:54

The electric auto maker is recalling the cars after Tesla said it had observed "excessive corrosion" in power steering bolts in very cold climates in areas using calcium or magnesium road salts.

Unsurprisingly, the issue is said to be concentrated in snowy regions that expose vehicles to road salt containing more corrosive additives such as magnesium chloride.

A Tesla spokesperson said Thursday that the planned shutdown of the Model S and Model X production line is now occurring only on Friday, not both days, and said that the pause is unrelated to Model 3 production targets.

Some 123,000 Model S vehicles globally contain the bolts, Tesla said.

Tesla's share price has been affected by the production delays for its new "Model 3". The National Transportation Safety Board is now investigating the crash.

The electric auto company recalled 90,000 Model S vehicles in 2015 due to a faulty seat belt. Should one of the bolts fail, the driver would need to use "increased force" to steer the auto at lower speeds, just like driving a vehicle without power steering. The company says if the bolts fail it will make driving at low speeds and parallel parking more hard.

All told, 123,000 Model S sedans are involved in the recall, almost half of Tesla's total production to date. Instead of salary and bonuses, Elon Musk will get one percent from the company's market cap each time Tesla's stock grows by $50 billion.

Commercial pilots claim UFO sighting over Arizona
A radio broadcast released later this month confirmed that the pilot said that something passed above them 30 seconds ago. The sightings occurred near the Davis-Monthan Air Force Base, and about 100 miles from Luke Air Force Base.

Vetr upgraded shares of Tesla (NASDAQ:TSLA) from a buy rating to a strong-buy rating in a report issued on Monday, March 19th.

In this June 18, 2013 photo, visitors to Sacramento, CA, inspect the Tesla Motors Model S electric sedan.

On Wednesday, a DE court ruled against the Tesla's motion to dismiss the shareholder claim and gave them the green light to pursue litigation.

The manufacturer is in the process of sending out emails to Model S owners of the affected lot to have the parts replaced at no cost to the owner.

None of this is good news for Tesla, its employees and investors, and the company's customers. The fix takes about 1 hour.

The Tesla Model S and Model X have been recalled previously for other issues.

Tesla spent $3.4 billion in cash on "operating cash flow less capital expenditures" a year ago.

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