XM does not provide services to residents of the United States of America.

US seeks records from Tesla in power steering loss probe



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-US seeks records from Tesla in power steering loss probe</title></head><body>

Adds details on the probe and letter

By David Shepardson

WASHINGTON, May 29 (Reuters) -The U.S. National Highway Traffic Safety Administration (NHTSA) said on Wednesday it is seeking records from electric car-maker Tesla TSLA.O in its investigation into Model 3 and Model Y vehicles over power steering loss reports.

The auto safety regulator, which upgraded its investigation in February, said in a letter dated Tuesday to Tesla and posted on its website that it wants Tesla's records by July 24 about the steering components.

The request includes Tesla's process for identifying problems and creating solutions for potential defects. The agency also wants to know whether Tesla has made any changes to power steering components or plans any in the next four months.

Tesla did not immediately respond to a request for comment on Wednesday.

The investigation covers about 334,000 Model 3 and Model Y vehicles from the 2023 model year and comes after the agency received 115 reports of loss of steering control.

The agency said the reports include steering or related failures, or steering becoming "stuck," "locked," or "immovable" or requiring high or increased effort. Other reports include "notchy" or "clicky" steering and steering-related error messages or warnings.

NHTSA, which had opened a preliminary evaluation in July 2023 into loss of steering control reports in 280,000 Tesla Model 3 and Y vehicles, said in February it identified a total of 2,388 complaints.

Reuters reported in December that tens of thousands of owners had experienced premature failures of suspension or steering parts since 2016, citing Tesla documents and interviews with customers and former employees.

The Tesla documents showed that the automaker sought to blame drivers for frequent failures of suspension and steering parts it has long known were defective, Reuters reported.

Some Tesla owners reported an inability to turn the steering wheel while others reported an increase in required effort. NHTSA said it is aware of over 50 vehicles allegedly towed as a result of the problem.

Tesla has had nine recalls in the United States for steering and suspension issues since 2018, NHTSA records show.



Reporting by David Shepardson; Editing by Rod Nickel

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.