The power steering bolts on the cars are seeing excessive corrosion.
Moody's dropped Tesla's credit rating Tuesday and changed the company's outlook to negative as the fledgling Model 3's production dwindles while the automaker's financial situation grows dim. Tesla will need to raise more money in the near future to meet its cash needs, the credit rating agency claimed.
This could lead to their failure, which would make it harder to steer as slower speeds.
The Silicon Valley-based vehicle company is performing a voluntary recall of the flagship over "excessive corrosion in the power steering bolts, though only in very cold climates", according to an email customers received late Thursday.
The company sent out emails to Model S owners who have cars included in the recall.
However, TSLA notes that there haven't been any accidents or injuries in connection to the issues.
This is likely due to the salt put down on roads during the winter months.
The company said if an owner hasn't experienced issues, they don't have to cease driving the cars, and that they would let owners know when retrofits, estimated to take around one hour, were available in their area. Tesla says it's going to contact users for a fix when it's available in their locale.
In addition to the Model 3 issues, Tesla has been working with regulators to investigate a fatal crash involving a Model X last week that prompted the company to defend the record of its driver-assistance system Autopilot.
"If the bolts fail, the driver is still able to steer the auto, but increased force is required due to loss or reduction of power assist", Tesla said in an e-mail to Model S owners whose cars are impacted by the recall.
As of this writing, William White did not hold a position in any of the aforementioned securities.
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