Engineers believe a small gear, perhaps improperly built by a supplier, is to blame.
In US trading, Tesla shares closed down 1% at $302.51.
The recall affects Model S and Model X cars manufactured between February 2016 and October 2016.
Tesla has issued a report stating that 53,000 of its vehicles are to be recalled due to a fault with their parking brakes.
Tesla is recalling 53,000 of its Model S and Model X vehicles assembled in 2016 to replace faulty electronic parking brakes.
Tesla Global Sales & Service President Jonathan McNeill said during a visit to Tesla Korea this week, that the USA -based electric auto maker will be installing fourteen Supercharger stations in Korea this year. If the gear breaks, the parking brake could get stuck in place. They accused the company of selling them cars with "Enhanced Autopilot" technology, knowing fully well that it was not functional and also lacked standard safety features.
The recall comes two weeks after Tesla Motors surged in value to overtake General Motors in market capitalization. "We are able to begin replacing parts immediately and will have sufficient parts for all affected vehicles by October 2017".More news: Videos show desperation of suspect in Facebook video killing
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Regular brakes aren't affected by the problem.
Jonathan McNeill, president of global sales and service of Tesla, during the opening of the company's service center in Hong Kong in November. No injuries have been reported from the malfunction.
"Service capacity will not be an issue", a Tesla spokeswoman said in an email, noting that the mobile technicians will be able to handle the fix.
There are now two Tesla showrooms in Korea.
Although this particular recall isn't almost as high-profile as the Takata airbag recall, it does highlight Tesla's slightly precarious position as the company prepares to release its mass-market Model 3.