Tesla to recall 53000 cars over parking brake issue

Tesla to recall 53000 cars over parking brake issue

It is not without rhyme or reason that investors are flocking to Tesla. The pre-orders of the Model 3 are hitting the road and the recently announced Tesla semi-truck set is set to unveil in the fall. Tesla has denied rumors it plans to start producing cars locally, leaving the field clear for other companies.

This "voluntary" recall involves model S and SUV Model X sedans produced between February and October 2016, reads in an e-mail addressed to the affected customers and which AFP has obtained a copy. 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 remedy? The company has promised to replace the brakes in all affected vehicles.

Tesla estimates that only 5 percent of the cars it is recalling will be affected and that the replacement will take about 45 minutes.

Tesla said the issue has not caused any injury and owners are safe to continue using their vehicles. The feature, which is costing customers $5000, is "essentially unusable and demonstrably risky", the complaint said. Repairs can begin immediately, Tesla said.

Tesla is expected to price the Model 3 somewhere around 35,000 United States dollars after it arrives in the showroom sometime next year.

Site C megaproject fuels election jobs debate in BC campaign
On the issue of tolling bridges, Clark repeated her party's promise to cap tolls at $500 a year per person. "Mr. Horgan announced an expanded apprenticeship and trades training program under a New Democrat government.

Earlier this week chief executive Elon Musk said Tesla would unveil an electric articulated lorry in September.

In the law suit being filed by a consumer, it was alleged that the electric vehicle makers sold vehicles that has faulty functions of semi-autonomous driving system.

He pegs the total addressable market in the USA very high and said that even if Tesla only gets 10% of the new truck market in the country, it could rake in $2.5 billion in revenue in a year. The stock now shows its YTD (Year to Date) performance of 40.51 percent while its Weekly performance value is -3.89%. Some are already reaching 265 miles on a single charge.

In addition, a Tesla freight truck would allow the company to branch out from passenger cars, and commercial trucks appear to be a good segment, said the analysts.

Pacific Crest cut shares of Tesla Inc (NASDAQ:TSLA) to a hold rating in a report published on Wednesday. According to their observations and findings, the stock could provide a high EPS of $0.54/share and a Low EPS of $-1.6/share.

Related News:

  • UFC: Cormier retains light heavyweight belt, retires Johnson

    UFC: Cormier retains light heavyweight belt, retires Johnson

    There was a ferocious battle in the light heavyweight title between Daniel "DC" Cormier and Anthony Johnson Saturday night. Known as a feared knockout artist, Johnson spent the entire fight looking to take down Cormier, a former Olympic wrestler.

    Mourinho fears worst with Ibrahimovic, Rojo injuries

    At a club like United, when you start the Europa League , you don't have the motivation high, but that's September. It's like me putting him in our Under-23s to win, let's say, a derby against Man City.
    United Kingdom  kicks off Vijay Mallya's extradition process, Tuesday's arrest the first step

    United Kingdom kicks off Vijay Mallya's extradition process, Tuesday's arrest the first step

    A Metropolitan Police statement said officers from the Extradition Unit arrested Mallya on an extradition warrant from India. Surjewala said the government's sincerity of objective would be proved only when Mallya and Modi are brought back to India.
  • British PM May says June election result 'not certain' despite front-runner status

    Green Party co-leader Caroline Lucas said Mr Corbyn was letting down Britain by refusing to back a second referendum. May's Conservatives now hold 330 House of Commons seats and Labour 229.
    4 draft-day scenarios that would drive Bears fans crazy

    4 draft-day scenarios that would drive Bears fans crazy

    Myles Garrett is the clear choice, but the Browns seem open to moving down if they get a Godfather offer. But as reporters continued to hammer away, the responses were more glowing about Garrett.
    Estes wins in Cowley County by 13 points

    Estes wins in Cowley County by 13 points

    Pompeo won the state's 4th District seat in 2010, when Tiahrt gave it up to run unsuccessfully for the U.S. GOP-sponsored robocalls featured urgent get-out-the-vote messages by Trump and Vice President Mike Pence.
  • Kevin Durant Could Be Held Out Of Game 2 With Calf Strain

    Through the first two games of this series, the Trail Blazers have seen polar opposite performances from their two best players. Meyers Leonard gets caught in no-mans land halfway between shutting off a driving lane and staying attached to the roll man.
    Tigers fall 8-1 Thursday, get swept by Rays

    Tigers fall 8-1 Thursday, get swept by Rays

    In the rotation because Jake Odorizzi strained his left hamstring, Ramirez had not started since April 16 past year . The Rays start their next series, against the Houston Astros, at home tonight when Alex Cobb faces Mike Fiers .

    Caitlyn Jenner's book is all made up: Kris

    For example, Caitlyn will talk about how she commonly wore a bra and panties under Bruce Jenner's business suits. Caitlyn supposedly states in her forthcoming autobiography that Kris knew all along about her "gender issues".
  • Ivanka Trump explains why she's skipping book tour

    Ivanka Trump explains why she's skipping book tour

    Radford is part of the expanding team that will work with the first daughter in her role as an unpaid senior adviser to Trump. It will be the first official worldwide trip for Trump, who has joined her father's administration as an unpaid adviser.

    Labour leader says UK election 'establishment vs people'

    He said it was a "rigged system" set up by a "cosy cartel" which he said was "set up by the wealth extractors for the wealth extractors".
    2 more charged in Michigan genital mutilation investigation

    2 more charged in Michigan genital mutilation investigation

    That girl's parents were interviewed by Federal Bureau of Investigation agents and described the procedure as a "cleansing". Some of the girls allegedly traveled to the clinic, which is midway between Detroit and Ann Arbor, from out of state.


Most liked

IMF, Trump Administration Can Improve Global Trade — IMF's Lagarde
World Bank President Jim Yong Kim told reporters: "We're encouraged to see stronger economic prospects after years of disappointing global growth".

Attacker kills French policeman, injures two others, IS claims responsibility
Security has been high in France since Tuesday, when police apprehended two men suspected of plotting an imminent terror attack. The Interior Ministry spokesman Pierre-Henry Brandet said both of the officers who were injured are doing better.

20 children killed when minibus hits truck in South Africa
After the crash, a fire started and emergency responders found about 13 children trapped inside the vehicle. South Africa's transport minister expressed condolences to the families of the dead.

Indiana GOP announces details of tax-hiking roads plan
In addition, the state's sales tax on gasoline is expected to be shifted from the general fund into roads by 2025. IN would need federal approval to expand tolling on interstates.

Klopp faces centre-back dilemma ahead of Crystal Palace visit
The German said: "It would make sense if we signed a centre-back this summer - we have had injury issues in defence this season". It has felt like a lifetime since we were competing in big European games and playing in finals and winning trophies.

Cavaliers aren't perfect, but they're still up 2-0 on Pacers
James was unfazed by the Pacers' fourth quarter fightback after the Cavs held on to take a 2-0 lead in the best-of-seven series . Love has upped his scoring game in the postseason, averaging 22.0 points, while also pulling down 7.5 rebounds in 35 minutes.

Developing: French policeman killed in reporter Paris shooting
Security has been high in France since Tuesday, when police apprehended two men suspected of plotting an imminent terror attack. The attacker was targeting police near the Franklin Roosevelt subway station, a police spokeswoman told the Associated Press .

Syria: Mattis, Assad still has chemical weapons
President Trump's recent actions in the Middle East are "a welcome change", Israeli Prime Minister Benjamin Netanyahu told U.S. The Syrian government has been locked in a six-year civil war against an array of opposition forces.

McCluskey wins Unite leadership re-election
An email was sent to Unite members and staff in the West Midlands informing them that Mr Coyne had been suspended from his job. It is understood the move is linked to statements he made regardingMr McCluskey's purchase of a flat using union funds.

Spokane shop has been serving 'Unicorn Frappuccino' for weeks
Would I get this again? The first sips were sweet and airy, like a combination of cotton candy and watered-down fruit. With the release, Starbucks has become the latest brand to capitalise on the social media-famous unicorn food trend.

New York Gets $25 Million For Battling Opioid Addiction
The grants will be administered by the Substance Abuse and Mental Health Services Administration. HHS will administer grants totaling $485 million to all 50 states and US territories .

Netanyahu criticizes Barghouti's New York Times op-ed
Hunger-striking Palestinians being held under administrative detention and Israeli authorities have negotiated deals in the past. In 2011, Israel swapped more than 1,000 Palestinian prisoners for an Israeli soldier who had been held by Hamas for five years.

Britain witnesses hectic 1st day of election campaigning
Eligible voters must make sure they are registered before 22 May in order to have their say. The majority of those people who voted for Brexit live in Labour's heartlands.

Fire crews rush to calls in San Francisco outage
Firefighters said on Twitter that they received more than 100 calls, 20 of them related to people trapped in elevators. Pacific Gas & Electric says about 90,000 customers have been affected by a power outage in San Francisco .

No changes; George HW Bush still in Houston hospital
The former president has vascular parkinsonism, a symptom complex that shares similar ailments with Parkinson's Disease. McGrath said Bush "feels terrific", and Bush's vice president, Dan Quayle, talked with him by phone on Friday.