India, Feb. 21 -- Luxury EV maker Tesla Inc. (TSLA) is recalling 376,241 vehicles in the U.S. due to potential power steering assist software failure that could result in an increase in steering effort and raise the risk of a crash, according to a statement by the National Highway Traffic Safety Administration (NHTSA) on Friday.

The recall involves Tesla 2023 Model 3 sedans and Model Y crossover SUVs that are running older software versions prior to 2023.38.4. The recall follows a year-long investigation by the NHTSA after Tesla owners reported steering issues.

The use of older software version could lead to overvoltage that could overstress motor drive components on the printed circuit board for the electronic power steering assist. This...