Tesla Motors is recalling 53,000 vehicles that include its Model X and Model S units. The reason is faulty parking brakes. Tesla Motors says that the issue occurred due to “a small gear that could have been manufactured improperly by our third-party supplier”. While the company says that the issue hasn’t caused any accidents or injuries according to their reports, it is recalling the vehicles in the name of safety.
“There have been no reports of the parking brake system failing to hold a parked vehicle or failing to stop a vehicle in an emergency as a result of this condition, and this part has no impact on the car’s regular braking systems.”
The problem is likely to occur in less than 5% of the vehicles being recalled (about 2% according to The Next Web) but in the name of safety, Tesla is recalling them all. This is typical in the motor industry. Tesla Motors itself has recalled 90,000 vehicles in November 2015 due to a faulty seatbelt, and Mercedes recalled 1 million vehicles over fire hazards due to some starter components in vehicles sold between 2015 and 2017.
The company has said the owners of the vehicles will be contacted by email and the parts to repair all the cars should be available by October. Each car will require approximately 45 minutes to repair. If you own one of the vehicles experiencing the parking brake issue, you can contact Tesla at ServiceHelpNA@tesla.com.
Tesla’s Perception In The Market Is Surging
The recall comes two weeks after Tesla Motors surged in value to overtake General Motors in market capitalization. Tesla’s stock price surged to an all-time high of $313.73 on Monday, 10th April 2017, sending the market cap to over $51.5 billion.
Tesla has had only two profitable quarters in its history as a public company; hence its surge in value is even more impressive. Tesla’s aims and their public perception as a company pursuing the glorious chrome future where we all drive hover cars and travel to other planets for summer vacation has helped tremendously. Elon Musk’s image as a pioneer and a “man of tomorrow” doesn’t seem to die as he invests in clean cars, space travel and most recently, Neuralink (where Musk is now CEO), a company building an AI to help humans and machines communicate more efficiently.