Tesla Avoids U.S. Fire Probe as California Defers Credit Changes
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Elon Musk’s Tesla Motors Inc., the best-performing U.S. auto stock this year, got a double dose of good news as U.S. officials chose not to probe a Model S battery fire and California deferred changes to a state program that would pare Tesla’s revenue from green-car credits.
The National Highway Traffic Safety Administration, in a statement, said today it found no evidence that the fire on a Washington state highway resulted from a Model S defect or violations of U.S. safety standards. The luxury car struck metal debris that pierced its lithium-ion battery pack, according to state officials and Tesla.