Electric car escapes federal scrutiny

Big Money

New member

Regulators have decided not to open an official investigation into the crash of a Tesla Model S earlier this month that resulted in a fire in the electric car's battery section.

The National Highway Traffic Safety Administration said that while it continually reviews vehicle complaints, the crash had not led to the discovery of any safety faults.

"After reviewing all available data, the NHTSA has not found evidence at this time that would indicate the recent battery fire involving a Tesla Model S was the result of a vehicle safety defect or noncompliance with federal safety standards," the agency said in a statement.

The crash and subsequent fire had been the source of much speculation online, and the company's stock price was battered as a result. Tesla shares have yet to recover, and are down about 10% since the incident.