Netflix adds 5.3M subscribers in Q3 >>> READ MORE

Tesla Off the Hook in Model S Post-Crash Battery Fire

Regulators did not identify a vehicle defect


Tesla Motors Model S 630A fire that consumed one of Tesla Motors’ (TSLA) pricey electric cars won’t lead to an official probe.

After reviewing the incident, the National Highway Traffic Safety Administration (NHTSA) said that there was no evidence that the fire resulted from “a vehicle safety defect or noncompliance with federal safety standards,” CNN Money notes.

Tesla and Samsung Talk Teaming Up
Tesla and Samsung Talk Teaming Up

A video of the Model S on fire went viral on the Internet earlier this month, causing Tesla shares to fluctuate sharply. Tesla officials said the incident was an unusual event.

The company attributed the fire, which was confined to the front portion of the car, to a piece of roadway debris, which penetrated the car’s battery compartment, sparking the blaze.

No one was injured in the incident that occurred outside of Seattle. The driver reported feeling something strike the vehicle’s undercarriage while driving and was able to pull off the highway and exit the car before the fire began.

Despite the news shares of Tesla Motors dropped more than 2% in Friday morning trading.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC