A Model S has caught fire in Belgium


Tesla 's horror year has gone from bad to worse with images of one of its electric cars charred following a fire – apparently plugged in one of the electric car maker's own high-powered charging stations in Belgium.

Belgian media have reported to be on the latest fire involving a Model S, one that required at 24-hour water to heat and ensure no flare-ups from the potent lithium-ion battery packs.

The fire reportedly happened in Antwerp on Supercharger station that was partially melted.

It is the latest high profile fire involving Tesla, which has previously argued its cars are less likely than petrol-fueled vehicles to catch fire.

The Belgium Tesla fire comes as the company 's shares slumped to two-and-a-half-year low, the dropping market capitalization slashing billions off boss Elon Musk's personal wealth.

Tesla's shares closed down 1.6 per cent on Friday at US $ 185.16, the lowest price since December 2016.

Tesla's share price is less than half the US $ 420 Elon Musk tweeted the company could be taken over at August 2018, a tweet that led to US $ 20 million fine from the Securities and Exchange Commission, which he deemed his statement was “false and misleading ".

It continues a long-running stock market trend, taking their toll on investor confidence.

Tesla is also like fire for its ambitious autonomous vehicle claims and a questionable business model that many investors are now feeling nervous about.

While some analysts still have strong buy recommendations on Tesla stock, more are running for the exit doors, suggesting owners sell up, presumably before things get worse.

Last month, Wedbush analyst Dan Ives warned investors there was "a code red situation at Tesla", suggesting the company was focusing on other projects such as robots rather than to be successful. and a vehicle that goes on sale in Australia in August priced from $ 66,000, plus on-road costs.

Barclays analysts said confidence in Tesla was shrinking and that there was "Tesla's higher likelihood is at best automaker". That Tesla almost singlehandedly kickstarted is the face of intense competition.

Business news outlets may look to take over Tesla as its share price plummets; some of the companies being bandied about range from General Motors and Ford to tech companies Apple and Google.



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