Business & Investment

Tesla shares fall after fire at EV maker’s California plant

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Tesla’s shares fell the day after firefighters responded to a fire broke out in an area of ​​real estate under construction at its factory in Fremont, California.

The Fremont Fire Department said it was able to contain the fire on the stamping machine in the factory and its crew had left the facility by 7 pm local time on March 11. The agency tweeted that Tesla’s own fire response team was monitoring the scene.

The fire department and Tesla did not respond immediately to the request for a status update at the beginning of March 12.

Tesla’s share price fell 2.4% in New York at 9:58 am, but previously fell 4.8%.

According to a statement posted on Instagram by local fire authorities, the cause of the fire was molten aluminum and hydraulic fluid. There were no immediate reports of injuries to Tesla or Fremont firefighters.

Last month, Tesla temporarily suspended production at its California electric vehicle assembly plant due to a supply chain problem. This problem was due to a delay in the supply of some parts. Tesla saw it as an opportunity to upgrade and maintain the equipment, and CEO Elon Musk emailed employees.

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Tesla shares fall after fire at EV maker’s California plant

https://www.ttnews.com/articles/tesla-shares-drop-after-fire-ev-makers-california-plant Tesla shares fall after fire at EV maker’s California plant

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