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Musk says Tesla 'definitely' won't recall Model S

Since early October, three Tesla Model S sedans have caught on fire, gained viral media coverage and received intense scrutiny, but Tesla's CEO and largest shareholder, Elon Musk, says "there's definitely not going to be a recall" of the Model S, Bloomberg reports. As of late October, the National Highway Traffic Safety administration (NHTSA) says it will not be launching a formal investigation into the Model S fire in Seattle, because there's no evidence to suggest that the fire was caused by a manufacturer defect and no government-mandated safety regulations were violated.
Though the fires are alarming, one must realize that hundreds of thousands of vehicle fires occur in the US every year. Electric Teslas, like any vehicle (including those with an internal combustion engine), are not immune to catching fire in certain situations. Here's Musk's take on the issue: "[The Model S] is about five times less likely to have a fire than an average gasoline car," he reportedly said Tuesday at the New York Times' DealBook conference in New York.
The first of the aforementioned fires occurred in Seattle and started in the battery pack after the Tesla hit a piece of road debris. The second fire occurred in Merida, Mexico, after the driver, who was speeding in his Model S, reportedly struck a raised pedestrian crossing, launched into the air and then crashed into a wall and tree. The third Model S ignition occurred after the driver ran over a tow hitch in Smyrna, Tenn., and - similar to the Seattle fire - damaged the undercarriage of the car where the battery is located.

Bond manager has odd advice for Tesla: stop making cars

Tesla Motors said in the release of its first-quarter earnings Wednesday that it will boost its quarterly production on its Model S luxury sedan to as many as 9,000 from the approximately 7,500 it made during the first three months of the year. Bond manager Jeffrey Gundlach doesn't believe that's a good thing. Gundlach, founder of DoubleLine Capital LP, told Bloomberg News that, while Tesla is a better investment than fast-growth companies like Twitter, the automaker would improve its financial results by halting production of its vehicles and dedicating itself to making battery packs for other automakers. A spokesman for Tesla, whose shares are up almost 40 percent this year, declined to comment to Bloomberg. We'll just sit here and imagine Tesla-powered Nissan Leafs and Chevy Volts. Back in the real world, aside from its own vehicles, Tesla makes battery packs for the Toyota RAV4 EV and for some versions of the Smart Fortwo ED and the B-Class EV. Tesla and Toyota first announced their collaborative effort in 2010, which included Toyota's equity investment in Tesla as Tesla prepared to take over the old NUMMI plant in the San Francisco Bay Area. Tesla said Wednesday that it took a $49.8-million first-quarter loss. Compare that to a year-earlier net income of $11.2 million. That's despite boosting revenue 10 percent from a year earlier to $620.5 million. That's largely because Tesla's selling, general and administrative costs more than doubled from a year earlier to $117.6 million.

Tesla autopilot could offer 90 percent autonomous driving next year

Those Tesla Model S electric vehicles look good, but anyone worried about computers taking over our roads may want to steer clear of them starting next year. That's because 2015 may be when such vehicles will have autonomous-driving capabilities, according to an interview Tesla Chief Elon Musk conducted with CNN Money. Never one to shy away from bold statements, Musk says his vehicles will be "90-percent capable of autopilot" by next year. The combination of the cars' cameras, sensors and other tools that have made Silicon Valley the tech capital of the US will allow the vehicles to fully function most of the time without the aid of us silly humans. Tesla may also announce a feature that will keep the vehicle in its proper lane later this week, Bloomberg News says, citing a person familiar with the process. Whether most of us would rather actually refrain from driving a Model S than being fully engaged is another question altogether. The company's declining to comment beyond what was said in the CNN Money interview. Of course, automakers have been talking about autonomous driving for years, though the prevailing wisdom is that the technology won't be readily available until at least the end of the decade. Still, companies are making strides. Last month, Germany's Audi became the first automaker to receive one of California's autonomous-driving permits. Meanwhile, not too far from Tesla's headquarters, Google has been testing out its own autonomous-driving vehicle, though that one's of the hands-free, no-steering wheel, no-pedals variety.