Tesla recalls 123,000 Model S cars for possible steering problem

March 30 (UPI) -- Tesla Motors is recalling 123,000 Model S electric-powered cars, in what's believed to be the company's largest-ever safety recall.

The company said in an email to customers Thursday excessive corrosion on bolts in very cold climates could lead to power steering failures.

The recall applies to Model S vehicles built before April 2016. Model X and Model 3 vehicles are not included.

The email said a car with the corrosion problem is still driveable, with "increased force."

"This primarily makes the car harder to drive at low speeds and for parallel parking, but does not materially affect control at high speed, where only small steering wheel force is needed," Tesla wrote.

No accidents have been reported over the issue.

Tesla has produced 280,000 electric vehicles since 2008.

The recall, and information this week that federal investigators are examining the deadly crash of a Tesla vehicle, led to a sell-off shares. The stock's price fell about 4 percent in after-hours trading Thursday -- and has declined about 20 percent in the past month.