Tesla’s Third Model S Fire Brings Call for U.S. Safety Probe
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Tesla Motors Inc.’s third fire in five weeks involving a Model S suggests U.S. regulators need to examine the luxury electric car, a safety advocate said after a Tennessee accident.
Shares of the Palo Alto, California-based carmaker led by Elon Musk slid 7.5 percent to $139.77 at the close yesterday in New York after reports of the newest fire. That decline follows a 15 percent drop Nov. 6 after the carmaker’s third-quarter results and fourth-quarter outlook disappointed investors. It was the biggest two-day plunge since Dec. 27, 2010.