Share value in Tesla Motors dropped more than six percent on Wednesday after a video hit the web showing a Model S sedan engulfed in flames. The driver ran over a large metallic object which caused extensive damage to the front of the car according to a statement from the company.
The video and accompanying photos were first published on automotive blog Jalopnik. The accident took place around 8 a.m. on Tuesday as the driver was traveling on state Route 167 near Seattle according to Washington State Trooper Chris Webb.
The driver said the car’s alert system instructed him to pull over so he got off the highway. Soon after, he started to smell something burning and then noticed the vehicle was on fire shortly after. The trooper said he was unable to find any debris on the road.
Fortunately, nobody was injured in the accident. Firefighters reportedly found it difficult to put out the blaze and the damage from the fire made it difficult to locate where the object struck the vehicle. The vehicle was towed away after the fire was extinguished, Webb said.
Tesla noted the fire was contained to the front portion of the sedan due to its design and construction and all indications suggest the fire never entered the interior cabin.
Share value closed at $180.95 on the day which is the biggest single-day decline since July. It’s since dropped another 1.33 percent in after-hours trading but considering share value is up more than 400 percent on the year, it’s unlikely the incident will have any serious impact.