Despite several reports of fires related to its batteries, Tesla Motors Inc’s maintains that its Model S sedan safety rating remains at “5 stars for crashworthiness” from the National Highway Traffic Safety Administration. The agency, however, is still continuing to investigate the incidents.
This has proven to be a great relief to Tesla CEO Elon Musk, who released a statement Monday emphasizing that “the German Federal Motor Transport Authority, Kraftfahrt-Bundesamt, recently concluded it own review of the fire cases, finding no manufacturer-related defects or need for further action. In fact, it will likely take many years until we can be certain whether there was something the government's crash tests didn't ‘catch’ the first time around, and therefore caused some form of calamity down the road, metaphorically speaking.”
In the meantime, the news sent Tesla stock soaring by 6.5% in mid-day trading yesterday, to a very impresive 352% this year, despite a 26% drop September 30th after news of the fires became public (see http://www.examiner.com/article/tesla-stock-burned-by-flaming-video).