Tesla cleared in German probe of Model S fires# Stock
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Tesla cleared in German probe of Model S fires
December 2, 2013, 7:48 PM
ReutersTelsa Model S automobile after a fire
Tesla Motors Inc. TSLA +1.84% said Monday a German probe of three recent
fires in Model S electric sports sedans found “no manufacturer-related
defects.”
Two of the fires occurred in the U.S. after the cars ran over road debris at
highway speeds. The third occurred in Mexico after a serious accident.
German authorities had requested data on the incidents from the company,
according to a statement on Tesla’s web site.
The investigation found that “no further measures under the German Product
Safety Act [Produktsicherheitsgesetz (ProdSG)] are deemed necessary,”
according to Tesla’s statement.
Tesla shares peaked above $190 on Sept. 30, the day before a video of the
first fire went viral on the Internet.
A U.S. probe of the fires was launched after the third fire was reported in
November.
Tesla CEO Elon Musk adamantly defends the high-end sports sedan, arguing
that no injuries occurred in any of the incidents, and complaining that
fires in gasoline powered cars occur far more often, but receive scant
coverage.
He was quick to tweet the German government findings:
Tesla cleared in German probe of Model S fires
December 2, 2013, 7:48 PM
ReutersTelsa Model S automobile after a fire
Tesla Motors Inc. TSLA +1.84% said Monday a German probe of three recent
fires in Model S electric sports sedans found “no manufacturer-related
defects.”
Two of the fires occurred in the U.S. after the cars ran over road debris at
highway speeds. The third occurred in Mexico after a serious accident.
German authorities had requested data on the incidents from the company,
according to a statement on Tesla’s web site.
The investigation found that “no further measures under the German Product
Safety Act [Produktsicherheitsgesetz (ProdSG)] are deemed necessary,”
according to Tesla’s statement.
Tesla shares peaked above $190 on Sept. 30, the day before a video of the
first fire went viral on the Internet.
A U.S. probe of the fires was launched after the third fire was reported in
November.
Tesla CEO Elon Musk adamantly defends the high-end sports sedan, arguing
that no injuries occurred in any of the incidents, and complaining that
fires in gasoline powered cars occur far more often, but receive scant
coverage.
He was quick to tweet the German government findings:
