Tesla (TSLA) recalls some Model Y EVs as steering wheels might fall off…again

Tesla Inc. (NASDAQ: TSLA) has announced a voluntary recall of 137 Model Y electric vehicles due to a potential safety concern. The recall was prompted by the discovery of a loose fastener by a service technician, which could potentially result in the steering wheel detaching completely. Tesla estimates that approximately 10 percent of the affected vehicles may have this issue.

“A loose fastener may allow the steering wheel to disconnect from the steering column, which can cause a loss of steering control and increase the risk of a crash,” the National Highway Traffic Safety Administration said in its recall acknowledgment letter.

There have been at least 3 previous occasions involving reports of steering wheel issues involving Tesla vehicles. Back in May 2020, a British man had his Model 3 wheel fall off just a month after it was delivered. Then, in January another man experienced a similar issue when the wheel in his Model Y fell off less than a week after delivery.

The electric automaker confirmed that it is aware of at least four warranty claims and one field report that “are related to or may be related to this condition.” At the same time, it says it’s unaware of any crashes, injuries, or deaths related to the issue. In March, the NHTSA said it was investigating two Model Y steering wheels that fell off and now, this recall follows.

Shares of TSLA have skyrocketed over 50% to $216/share so far this year, and are up 1.12% in afternoon trading on Monday. The stock, which is headed for the highest close since Nov. 1, has soared 20.2% during its current win streak.

By Michael Elkins | [email protected]

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