With shares of Tesla hitting an all-time high and the company approaching several milestones, another fire involving the Model S is coming to light.
The fire, during which nobody was hurt, happened Feb. 1 in Toronto, Canada, Toronto Fire Services confirmed. TFS said the origin of the fire was in the engine area, but the actual source of the fire is unclear.
Tesla confirmed the fire while downplaying the incident. Spokeswoman Liz Jarvis-Shean said in a statement, “We don’t yet know the precise cause, but have definitively determined that it did not originate in the battery, the charging system, the adapter or the electrical receptacle, as these components were untouched by the fire.”
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Fifth fire in five months
The fire in Canada is the fifth blaze involving a Model S in the last five months. Two of the fires occurred after owners of the cars drove over debris in the road, which punctured the battery compartment of the electric car.
The National Highway Traffic Safety Administration (NHTSA) is currently investigating the safety of the Model S battery system. There is no indication when that investigation may be completed.
Tesla CEO Elon Musk has said he believes the NHTSA probe will end without a recall of the Model S.
Musk and Tesla executives have repeatedly pointed out no deaths have ever been linked to fires involving the Model S.
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“The Model S continues to have the best safety track record of any vehicle in the world,” said Jarvis-Shean.
Tesla shares crack $200
The report came just hours after Tesla shares finished the day at $199.63, a new all-time high for the stock’s closing price. During Thursday’s trading session and in early trading Friday, Tesla shares traded above $200.
In the last month, Tesla stock has soared 43.27 percent, regaining the momentum that drove it higher through much of last year.
Tesla will report fourth-quarter and full-year earnings next Wednesday. Analysts will be focused on whether the company will raise its forecast for how many Model S vehicles it expects to build this year.
The earnings report is the first of several potential catalysts for Tesla this year. Over the course of the next few months Tesla is expected to announce plans to build a “giga factory” to increase production of lithium-ion battery cells.
Tesla will also begin deliveries of Model S vehicles in China, which is expected to be a major growth market in the years to come for Tesla and other electric car companies.
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