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Tesla recalls nearly 3,900 Cybertrucks in the US, stock price drops nearly 3% pre-market

Niu Zhan Lin Sat, Apr 20 2024 10:06 AM EST

Financial Union News, April 19 (Editor: Niu Zhanlin) - According to the National Highway Traffic Safety Administration (NHTSA), Tesla announced the recall of 3,878 2024 model year electric pickup trucks, Cybertrucks, in the United States. The recall is due to the potential for the accelerator pedal to become stuck, leading to unintended acceleration and increasing the risk of collisions.

In pre-market trading, Tesla's stock price dropped nearly 3%.

The NHTSA stated that Tesla's after-sales service department will replace or repair the accelerator pedal assembly free of charge. Owners will receive notifications about this recall activity via mail in June. S8ce9fe40-3ffa-47ed-8b8f-a64ba2dfb25c.jpg Elon Musk, CEO of Tesla, responded on social media saying the company would be "very cautious" in handling the issue. Additionally, Tesla reported to the NHTSA that they were unaware of any accidents or injuries related to the problem.

The company claims it first received a report of accelerator pedal issues from a customer on March 31st, followed by a second report on April 3rd. After conducting a series of tests, Tesla decided to recall the vehicles on April 12th.

In addition to replacing or repairing all existing Cybertruck accelerator pedals, Tesla informed the NHTSA that they have begun using new accelerator pedals in the production of Cybertruck.

This indicates that Tesla is taking proactive steps to address the potential issue with the accelerator pedals, not only for vehicles already delivered to consumers but also for those in transit or awaiting delivery at delivery centers. Through these measures, Tesla hopes to ensure that all Cybertruck vehicles are safe and reliable when delivered to consumers.

It's reported that Tesla initiated three recalls in the first quarter of 2024, affecting approximately 2.4 million vehicles, including the Cybertruck.

However, most issues related to Tesla recalls are typically addressed through over-the-air (OTA) software updates. This means Tesla can send software updates directly to vehicles over the internet, eliminating the need for owners to take their vehicles to service centers for physical inspection or repair.

The distinctive-looking electric pickup truck, Cybertruck, was officially unveiled in November last year after numerous delays due to production issues and battery supply constraints.

Currently, sales figures for the Cybertruck remain a mystery, with Tesla possibly releasing production and delivery details in its first-quarter earnings report this year.

Musk previously predicted that it would take Tesla 12 to 18 months to begin mass production of the stainless-steel Cybertruck. He also cautioned that annual production of the Cybertruck is unlikely to reach 250,000 vehicles before 2025, but orders have already surpassed 2 million.

Reports this week indicate that Tesla has delayed the delivery date of the electric pickup truck, but no reasons have been given, and the number of affected buyers cannot be determined at this time.

The reason for the delivery delay is currently unclear. However, at least one Cybertruck owner said on social media that their accelerator pedal had become stuck when a panel on the pedal came loose.