| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Editor’s note: This story has been updated with details about model years affected and recent Tesla recalls.
The U.S. National Highway Traffic Safety Administration (NHTSA) announced on Friday that EV giant Tesla Inc. (NASDAQ:TSLA) is recalling over 125,000 of its car models due to issues with the deployment of seat belt warnings.
What Happened: The NHTSA reported that the seat belt warning light and audible chime, which remind the driver to use the safety feature, might not activate as intended if the driver is not belted. This increases the risk of injury in case of a crash. To resolve this issue, Tesla will deploy a software update at no cost to customers, beginning in June.
Fix & Impact: The recall affects both Tesla’s mass-market Model 3 and Model Y vehicles, as well as its more premium Model S and Model X. The problem arose due to an open trace in the driver seat occupancy switch. The software update will remove dependency on the switch, relying solely on the driver seat belt buckle and ignition status to activate warnings going forward.
As of May 28, Tesla has identified 104 warranty claims that may be related to the issue. However, the company is not aware of any collisions, fatalities, or injuries related to the problem, according to the NHTSA filing.
Why It Matters: Earlier this month, the NHTSA closed a year-long probe into over 100,000 Model X SUVs over concerns that seat belts could detach from the outboard lap pretensioner anchor while the vehicle was moving. The investigation was closed after deeming Tesla’s recall issued in July sufficient.
Late last month, Tesla also recalled 3,878 Cybertrucks due to concerns of unintentional acceleration. The company offered a free physical repair of the accelerator pedal assembly to resolve the issue.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Photo via Shutterstock
Posted In: TSLA
