A fire that destroyed a Tesla Model S vehicle near Seattle caused shares of Tesla Motors Inc. stock to fall 6.24 percent.
Company spokeswoman Liz Jarvis-Shean said on Oct. 1 that the fire was caused by a large metallic object that hit one of the battery pack's modules, according to the Associated Press.
"This was not a spontaneous event," Jarvis-Shean said. "Every indication we have at this point is that the fire was a result of the collision and the damage sustained through that."
Shares in the California-based company have risen over 400 percent in 2013, but some investors are now worried over the vehicle's safety. It was previously believed that the Model S was one of the safest cars in the world, but it took 2 1 / 2 hours for the firefighters to leave the scene.
Tesla shares fell $12.05 to $180.95 on Oct. 2, according to the Associated Press. The drop represented Tesla's biggest on day decline since July.
The fire was contained to a small section located in the front of the vehicle. No one was hurt during the incident.
A video of the fire made its way to the internet on a number of different sites, included Jalopnik and YouTube.
The 85 kilowatt-hour battery in the Model S is mounted below the passenger compartment floor and uses lithium-ion chemistry to run, similar to the batteries in smartphones and laptops.
When firefighters tried to put the fire out, water seemed to ignite it more, so they used a dry chemical extinguisher to finally put it out.
The incident occurred as the driver was traveling southbound on state Route 167 through a Seattle suburb, said Trooper Chris Webb of the Washington State Patrol, according to the Associated Press.
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