Tesla Motors Inc. is now under serious trouble as a Tesla Model S car burst into flames after a test drive in Biarrits. As of now, the company is working hand in hand with French authorities to understand the causes of the unfortunate incident.
According to the spokesman of Tesla, "We are working with the authorities to establish the facts of the incident and offer our full cooperation. The passengers are all unharmed." The passengers were all safe and were able to vacate the technically impaired vehicle before it burst into flames.
Tesla was organizing an event in the south western region of France where it showcases its vehicles on a series of test drives.
Tesla faced the same incident in 2013 when one of its Tesla Model S catches fire because of the driver who hit the cover that protects the lithium-ion battery with a huge metal object. After the incident, Tesla's market share soon plummeted.
Fortunately, the stock price of the company easily recovered the devastating incident. Currently, the market share of Tesla fell by roughly 1 per cent, now valued at $223.61.
It is forecasted that the stocks of Tesla will plunge, but will be capable of going back to normal after a few months once the issue has been addressed to be isolated.
It has been proven that lithium ion batteries easily catch fire if experiences even the slightest of damages. Good news is that the Tesla Model S is regarded as generally a safe vehicle to ride on.
Its reputation of having won a five-star rating for safety by the National Highway Traffic Safety Administration in every testing category can easily counteract the unfortunate incident. Consumer Reports also gives the Tesla Model S a rating of 99 out of 100 points, ranking as one of the highest rated cars reviewed by the media outlet.
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