Tesla Motors CEO Elon Musk says he is "confident" that the Model S electric car will be cleared by a federal investigation into two battery fires, according to the Associated Press.

Musk called the two fires, which took place when metal road debris hit the underbody of the vehicles while moving at highway speeds, "extreme cases." He does not expect the Model S to be recalled and said engineers "are not working on" fixing the vehicle as well.

"In both cases it was a large piece of metal essentially braced against the tarmac," Musk said in interview with AP.

No one was hurt in the two fires, which started in the batteries and happened in Tennessee and Nashville.

A third fire took place in Mexico when a driver ran through a concrete wall going 100 mph, but U.S. investigators are not allowed to look into the crash.

Musk, who has described the fires as "torture," said no one has ever been hurt while driving a Model S, including the drivers who were in the vehicles when the fires started.

He won't promise that another fire will never happen again, however.

"I'm not saying it can't happen again," Musk said. "I'm saying in any kind of low-speed impact, you're fine. Any car, Model S or not Model S, the underside is going to get significantly damaged if you drive over a large metal object."

Barclays analyst Brian Johnson dropped his Model S sales forecast for next year to 29,700, and lowered his one-year price target for Tesla stock from $141 to $120 last week.

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