German automaker Porsche is recalling nearly 32,000 Taycan electric vehicles in the U.S. citing concerns of reduced braking performance owing to a brake fluid leak.

What Happened: The front brake hoses in certain Taycan vehicles may develop cracks, thereby causing a brake fluid leak. A brake fluid leak can reduce braking performance, increasing the risks of a crash, the U.S. auto safety regulator National Highway Traffic Safety Administration (NHTSA) said.

If the Taycan has lost a certain amount of brake fluid, it will flash warning messages to the driver such as "brake fluid low," the company said.

The recall population of 31,689 vehicles includes model year 2020-2025 Taycan vehicles and Porsche dealers will replace the front brake hoses at no cost to the customer for a solution, the company said.

Why It Matters: While there have been no accidents reported in the U.S. owing to the issue, an accident was reported outside the country, Porsche said. The vehicle was traveling significantly over the speed limit in the incident but no injuries were reported, the company added.

The Taycan is one of the pricier EVs in the market with a price point of over $100,000. The premium sports sedan, also Porsche's first production EV, is up against Tesla's Model S in the U.S. EV market.

While the base version of the Model S starts at just $72,990, the more premium Plaid version starts at $87,990, much closer to the Taycan.

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