Fire Dept Responds to Report of Fire at Tesla Plant

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Nov. 13 (Bloomberg) -- On today's "The Roundup," Matt Miller, Cristina Alesci, Adam Johnson, Alix Steel and Olivia Sterns wrap up the day’s top market stories on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Of an industrial fire at the tesla plant in fremont, california.

You can see on the internet, images of fire trucks being streamed, so reports of an ambulance there, i've called tesla a few times and sent an e- mail.

No comment from the company but it looks like there is some sort of industrial accidents.

There have been a number of fires with the cars, at least three by my count.

They have been out for about nine months now.

Elon musk yesterday at some sort of event said regular cars catch fire also.

Teslas are going to also, but he says they are much less likely to catch fire that a conventional -- conventional internal combustion engine.

Does he have any numbers to back that up?

To be fair, other electric cars have run into similar problems that may have been looked into on a regulatory issue.

It's not just a tesla issue.

Anything having to do with lithium ion that reads, that is the concern.

Although with the chevy volt, it was run into with a truck and turned upside down.

The tesla engine fires have all come on actual highways.

In driving situations, somebody runs into an unidentified metal object or smashes into a guardrail and the car catches fire and the battery pack burns.

I do know how you prevent a car from exploding.

I've always been able to prevent it.

When you have this lithium- ion battery, it's completely new technology that in its infancy.

Regulators don't know what they're going to do and there are going to be problems.

You can see how the company deals with it from a pr standpoint.

They haven't really dealt with it.

Just repeat for the viewers the headline coming across.

Tesla has had an industrial accident at its plant in fremont.

There is live video of fire trucks and an ambulance at the plant.

I called and spoke to someone at a plant who had little comment about it.

I am waiting a callback from someone else probably hire up to confirm or give me details.

There is no indication that it is necessarily related and in any of the car incidences, there have been no injuries.

One thing eon -- one thing elon musk says is yes, there is fire, but every one of our cars has gotten out because of a firewall they put around the battery pack.

Ultimately, investors don't seem that put out great the stock in after-hours trading is relatively flat with where it closed.

Now we have this headline of some sort of fire.

A quarter of its value has been lost in last month.

Is the third most shorted stock in the nasdaq.

Technicians will tell you it's a lot of shorts.

Elon musk says -- he said he thinks the stock is overvalued.

This text has been automatically generated. It may not be 100% accurate.


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