Tesla recalling more than 50,000 cars
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Tesla (NASDAQ: Tesla [TSLA]) shares have slumped after the electric vehicle maker announced it was voluntarily recalling around 53,000 of its cars over an issue with electric-parking brakes.

The Elon Musk-headed firm said it made the decision "to be overly cautious" despite no reports of accidents of injuries.

"Tesla recently discovered a potential manufacturing issue with the electric parking brakes installed on certain Model S and Model X vehicles that could prevent the parking brake from releasing, " the firm said in a statement.

"Specifically, we have determined that the electric parking brakes installed on Model S and Model X vehicles built between February and October 2016 may contain a small gear that could have been manufactured improperly by our third-party supplier. If this gear were to break, the parking brake would continue to keep the car from moving, but the parking brake would then be stuck in place."

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Tesla added there had been no reports of the "parking brake system failing to hold a parked vehicle or failing to stop a vehicle in an emergency".

Tesla shares closed just under one percent lower at $302.51 but have surged so much this year the car maker has surpassed Ford (NYSE: Ford Motor Company [F]) in terms of market capitalisation.

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