Yesterday's fire that engulfed a Tesla Model S, the first blaze involving the critically acclaimed electric sedan, was caused when a piece of road debris impacted the front of the car, damaging the battery pack and starting a fire, according to an email sent to AutoblogGreen by Tesla. Now, The New York Times has learned that the fire was indeed caused by debris that made "a direct impact ... to one of the 16 modules within the Model S battery pack," according to Tesla spokesperson Elizabeth Jarv
Tesla Motors (TSLA) shares were hammered hard near the end of last week and are still dropping as word of the expiration of a 180-day post-IPO lock-up agreement continues to make the rounds. Starting today, 75 million Tesla shares, which had previously been subject to a lock-up agreement restricting their sale, will be eligible for registration.
Tesla Motors, the U.S.-based electric automaker partially backed by Toyota and Daimler, let 13.3 million shares fly in its IPO back in June. The opening price of $17 per share was higher than anticipated, but that didn't stop investors from, well, investing. Within a day, the shares shot up to $23.89 – a hefty increase of 40.53 percent.
Here's the skinny: Saab isn't totally dead yet. As the weekend showed, there's (a little) hope for both Saab and its Dutch suitor, Spyker. As our man Ramsey laid out yesterday, Spyker submitted a renewed eleven-point plan to General Motors that they (Spyker) hopes will allow them to take ownership of the deeply troubled brand. And yes, being pronounced dead four days ago counts as "deeply troubled." As Swedish Prime Minister Fredrik Reinfeldt pointed out, all this dead/not dead uncertainty has b