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00:02Tesla is recalling about 10,500 Powerwall II home backup batteries, according to CNBC.
00:09The U.S. Consumer Product Safety Commission said the defective lithium-ion cells in some
00:14Powerwall II units can cause failures that lead to overheating, smoke, or fire, and pose
00:20life-threatening burn hazards.
00:22Tesla attributed the problem to a third-party battery cell defect, but did not identify
00:26the supplier.
00:28The company received 22 overheating reports, including five fires that caused minor property
00:33damage.
00:34Tesla sells its Powerwall batteries through its energy division, offering home storage systems
00:39that pair with solar rooftops to store electricity for later use, including during outages or
00:44high-priced periods.
00:46Powerwalls, part of Tesla's fast-growing energy division, contributed to a 44 percent revenue
00:52increase to $3.42 billion in the third quarter.
00:56Tesla shares fell more than 7 percent on Thursday.
00:59For all things money, visit benzinga.com.
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