What Is Tesla Motors Inc (NASDAQ:TSLA) Saying On Another Model S Accident?

Posted by Chris Bell October 29, 2013 0 Comment 1371 views

Tesla Motors Inc (NASDAQ:TSLA) has been in the news this month due to the Model S accident that had taken place in Mexico. The car had rammed a concrete barrier and burst into flames, but the driver was unhurt said the company. This accident occurred on 18 October close to Merida in Mexico and this was confirmed by the company’s spokesperson, Liz Jarvis-Shean.

The accident

Numerous photos have been splashed on the internet and they all show the front-end of the car that was smashed by the barrier and flames engulfing the car. The spokesperson said that they were able to contact the customer very quickly and is happy that he is safe. The car had been travelling at an extremely high speed, smashed into the barrier and went onto hit a very large tree. Despite this, the driver came to no harm and walked away from the site of the accident with no permanent injury.

Last week, the National Highway Traffic Safety Administration said that they had found absolutely no evidence indicating that the Model S fire that occurred on a state highway in Washington this month had been a result of safety standard violations or defects. In the 1 October accident the car had struck some metal debris that had been lying on the road. It had pierced the vehicle’s lithium-ion battery-pack which had resulted in the fire said Tesla Motors Inc (NASDAQ:TSLA) and the state officials.

Monday’s trading

In Monday’s trading, Tesla Motors Inc (NASDAQ:TSLA) dropped by 4.01%. The opening price of the shares was $170.18, which climbed to an intraday high of $170.50 and dipped to a close of $162.86. Approximately 7.84 million shares were traded on Monday while an average volume of 10.35 million shares were traded over a 30 day period. The company has a market capitalization of $19.78 billion.

About Chris Bell

Chris Bell is an investing reporter for GDP Insider. Chris covers financial markets and Wall Street, concentrating on developments affecting individual investors and their portfolios. Chris is also over consumer reporter and covers a wide variety of issues ranging from housing to immigration to urban poverty. Chris graduated from the University of Scranton with a degree in Communication and Philosophy. Chris's diligent investigations earned him the honor of being named "Best Reporter" once by the Headliners Foundation of Texas and once by the Houston Press Club.

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