SEATTLE (AP) -- Shares of electric car company Tesla sank more than 6 percent Wednesday after an Internet video showed flames spewing from one of the company's vehicles near Seattle.
Shares of Tesla Motors Inc. fell $12.05 to $180.95 -- the stock's biggest one-day decline since July 16.
The incident happened Tuesday after 8 a.m. as the driver was traveling southbound on state Route 167, said Trooper Chris Webb of the Washington State Patrol. The driver stated that he believed he had struck some debris on the freeway, triggering the fire, Webb said, but a trooper who responded to the scene was unable to locate any objects on the roadway.
There were no injuries, and the vehicle was towed away, Webb said.
The automobile site Jalopnik.com posted video that it says was taken by a reader. The video shows the front of the Tesla Model S in flames.
In a statement issued Wednesday, Tesla said the fire was caused by "substantial damage" to the car when the driver hit a large metal object in the road. The flames, the company said, were contained to the front of the $70,000 vehicle due to its design and construction.
"All indications are that the fire never entered the interior cabin of the car. It was extinguished on-site by the Fire Department," the statement said.
Shares of Palo Alto, Calif.-based Tesla have risen more than 400 percent since the start of the year.
The company's battery system and the Model S itself have received rave reviews, including a top crash-test score from the National Highway Traffic Safety Administration and a tie for the highest auto test score ever recorded by Consumer Reports magazine.
But investors likely were alarmed, with some selling Tesla stock, out of fear that the fire could be an indication of a flaw in the company's battery packs.
Follow Mike Baker at https://twitter.com/MikeBakerAP . AP Auto Writer Tom Krisher in Detroit contributed to this report.
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