Content adapted from this Zerohedge.com article : Source
Mark Zuckerberg is not the only billionaire having a rough week.
Elon Musk is enduring a crash car, missed production targets, autonomous deaths, and a liquidity crisis. Now we can add a recall to the list of struggles for the well known CEO.
After the market closed, Tesla announced the recall of 123,000 Model S cars.
The recall is related to a power steering problem.
The recall covers all Model S sedans built before April of 2016.
Three bolts holding the power steering motor in place can corrode and either come loose or break, possibly causing a loss of power steering. Manual steering would still work.
Tesla says the problem happens infrequently in places where salt is used to clear snow and ice from roads. It's recalling all the cars even in warm-weather states just in case.
No crashes or injuries have been reported.
Service centers will replace the bolts with ones that are more corrosion-resistant. Owners will be notified Thursday by email. Tesla says replacement parts will be available first in cold-weather areas, then in warmer climates.
It is no surprise that investors did not like what was happening.
Ouch.
Good thing for Elon that tomorrow is Friday.
Non-adapted content found at zerohedge.com: Source
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