Correspondent, Detroit
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Oct 3, 2013
Oct 3, 2013

Tesla grapples with PR nightmare after battery fire in U.S.

DETROIT, Oct 3 (Reuters) – A video that went viral of a
burning Tesla electric car has emerged as a public relations
nightmare for the company, analysts said Thursday, as the “green
car” maker lost as much as $3 billion in market value two days
after the incident in Washington state.

Tesla Motors Inc has confirmed that the car caught
fire after the driver ran over a large metallic object on
Tuesday morning just south of Seattle, causing extensive damage
to the front end of the Model S sedan. Emergency officials at
the accident said the fire occurred in the electric vehicle’s
lithium-ion battery.

Oct 3, 2013

Tesla stock keeps sliding after Model S battery fire

DETROIT (Reuters) – Tesla Motors Inc’s (TSLA.O: Quote, Profile, Research, Stock Buzz) stock price took another hit on Thursday following a battery fire in its flagship Model S sedan in Washington state this week as analysts said sales of the electric vehicle would likely suffer.

The shares fell 5.7 percent to $170.70 in afternoon trading following a decline of more than 6 percent on Wednesday, at one point knocking almost $3 billion from the company’s market value. Images and a video of the burning car were posted online after the accident and fire on Tuesday morning just south of Seattle.

Oct 3, 2013

Tesla stock plunge continues after Model S battery fire

DETROIT, Oct 3 (Reuters) – Tesla Motors Co’s stock
price took another hit on Thursday and its sales were likely to
suffer following a battery fire in its flagship Model S sedan in
Washington state this week, analysts said.

Tesla’s shares fell 6.4 in early trading, following a more
than 6 percent decline on Wednesday after images and a video of
the burning car were posted online. The accident and fire
occurred Tuesday morning just south of Seattle.

Oct 2, 2013
Oct 2, 2013
Oct 2, 2013

General Motors takes a look under Tesla’s hood

Oct 2 (Reuters) – In Wall Street’s retelling of the biblical
Book of Samuel, General Motors Co is Goliath and electric
car maker Tesla Motors Inc is David, the would-be giant
slayer.

Tesla’s market value has soared 470 percent this year to $23
billion, while GM has risen a relatively modest 25 percent to
$50 billion. At this pace, if the bubble doesn’t burst,
10-year-old Tesla could eclipse 105-year-old GM next year.

Sep 27, 2013
Sep 27, 2013

GM won’t tackle pension talks with UAW until 2015: executive

NEW YORK (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) will wait until its next round of labor talks in 2015 before negotiating with the United Auto Workers about the automaker’s U.S. blue-collar pension obligation, GM’s vice chairman said on Friday.

GM’s pension obligation to UAW-represented workers in the United States was $71 billion at the end of 2011, the last time the Detroit company detailed its blue-collar pension obligation. That exceeds GM’s current market value by about $20 billion.

Sep 27, 2013
    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Hometown:
      Washington, DC
      Joined Reuters:
      1998
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