Feeds

Tesla battery fire pushes beleaguered firm's share price even lower

Stocks rocked by burning Model S and battery shortage

Next gen security for virtualised datacentres

A third fire in five weeks for Tesla's Model S have sent shares in the electric carmaker down by a further seven per cent.

Stocks were already suffering after news that Tesla didn't have enough batteries to meet demand for its motors and hadn't delivered the number of cars that analysts expected in the third quarter, with its price falling 15 per cent on Wednesday in New York.

Yesterday, the shares dropped another 7.5 per cent before trading closed after an accident in Tennessee.

In a similar scenario to the recent fires in Washington State and Mexico, a Model S battery combusted after the car ran over a tow bar, Bloomberg, The New York Times and others reported.

Clarence Ditlow, executive director of the Centre for Auto Safety, has called on the National Highway Traffic Safety Administration to investigate this latest incident.

“The initial failure mode is puncture of the battery pack from road debris,” he said. “The obvious engineering fix would be to add a safety shield. With Tesla, there is some protection there. They just need a better shield.”

But market observers have pointed out that the number of Model S cars that are in accidents and don't catch fire is unknown and regular cars have been known to catch fire after accidents as well.

Electric cars are under particular scrutiny because they're new, so despite the fact that the Model S has received record-high safety ratings, every battery fire seems to dent the market confidence in the firm.

Tesla said that it has sent a team to Tennessee to investigate the accident. No-one was injured in any of the recent Model S incidents. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.