Tesla stock dives as Model S burns
October 4 , 2013
Share price of the electric car company Tesla dived after a video was taken of the all-electric Model S being in flames after colliding near Seattle.
According to the driver, the car caught fire after he struck metal debris on the road. It took many attempts for firefighters to be able to extinguish the blaze.
This is a unique incident since it's the first time that a vehicle that has received high safety ratings as well as rave reviews was involved in such an accident.
The company said, "a fire caused by the substantial damage sustained during the collision was contained to the front of the vehicle thanks to the design and construction of the vehicle and battery pack."
It hasn't been clear as to whether or not the vehicle's battery pack caused the fire but "all indications are that the fire never entered the interior cabin of the car," Tesla said.
The investigation is going to have to wait until the government shutdown ends.