Shares of electric car company Tesla sank more than 6 percent Wednesday after an Internet video showed flames spewing from one of the company’s vehicles near Seattle.
Shares of Tesla Motors Inc. fell $12.05 to $180.95 — the stock’s biggest one-day decline since July 16.
The fire happened Tuesday after 8 a.m. as the driver was traveling southbound on state Route 167 through Kent, said Trooper Chris Webb of the Washington State Patrol. The driver stated that he believed he had struck some debris on the freeway, triggering the fire, Webb said, but a trooper who responded to the scene was unable to locate any objects on the roadway.
There were no injuries, and the vehicle was towed away, Webb said.
In a statement issued Wednesday, Tesla said the fire was caused by “substantial damage” to the car when the driver hit a large metal object in the road. The flames, the company said, were contained to the front of the $70,000 vehicle due to its design and construction.
