Just days after Tesla stock hit an all-time record another fire involving the battery-car maker’s Model S is raising new safety concerns.
The latest battery blaze occurred in Toronto after the owner returned from a drive and parked the electric sedan in their garage. Moments later, the owner’s fire detector reportedly went off and the fire department was called to the scene.
The incident is the fourth reported fire involving a Model S in recent months, including two in the U.S. and another in Mexico. The earlier incidents raised questions about the safety of the Model S design and initially triggered a sharp decline in Tesla’s soaring stock price. Shares had been recovering in recent weeks but took a tumble again on Friday.
“In this particular case, 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,” said Tesla in a statement that insisted, “The Model S continues to have the best safety track record of any vehicle in the world.”