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Tesla Stock Hits All-Time High Hours Before Fifth Car Fire Reported

A Tesla Model S caught fire while parked in its owner's garage in Toronto earlier this month. This marks the fifth car fire in five months for the California automaker, according to CNBC. On Feb. 1, a four-month-old Model S was parked and unplugged in a garage when its owner heard the fire alarm go off. The car was quickly engulfed in flames. The fire damaged the garage and nearly destroyed another vehicle. Toronto Fire Service tells CNBC the engine area was the source of the blaze. Tesla is investigating the fire, and issued a statement to Business Insider reminding consumers that every automotive company expects to deal with car fires at some point and that gasoline cars experience higher car fires than Tesla on average. There have been no deaths due to the fires. Five Teslas have caught fire in the last five months, two were started when their battery packs were punctured by debris in the road. A ho-hum third-quarter in 2013 and news of the fires caused the stock price to dwindle to $120 a share. The company recently reclaimed much of that ground, surging for the first time past $200 a share just this week, Autoblog Green reported. Related: Tesla Model S Test Drive | TRANSLOGIC Related Gallery The Top Ten Best Green Cars -- And 3 Clunkers View 14 Photos Tesla fire engine stock stocks

Tesla Roadster getting 400-mile battery upgrade

A few months ago, Tesla Motors CEO Elon Musk said something a bit cryptic during the company's annual shareholder meeting: Tesla was working on "a fairly exciting upgrade to the Roadster." Mysterious, no? Well, speaking with Auto Express recently, Musk revealed what this upgrade will be: an improved battery pack. "The Roadster had an old generation battery," Musk told Auto Express." We'll upgrade it to a new generation battery pack and it should have a range of about 400 miles, which will allow you to drive from LA to San Francisco non-stop." The Roadster originally came with a 245-mile range, which is good for Los Angeles to Madera, CA. Tesla sold the Roadster, its first car, in the US from 2008 to 2011 and elsewhere until 2012. It's not that the old Roadster batteries were failing regularly – quite the opposite, in fact – but li-ion EV technology advances rapidly, and so now we're extra curious what's in the new pack and how it will work. Will it be compatible with Tesla's Supercharger technology? How much will it cost, both for Roadster owners as well as for Tesla? We've asked Tesla for answers to these questions, but all a spokeswoman would say is, "We have no further details at this time." At the shareholder meeting in early June, Musk said the "exciting upgrade" would happen this year, so if he was talking about the battery upgrade at that time, we should be getting more information on the new packs right soon.

Could Tesla build EVs in China as soon as 2017?

A 25-percent import tariff can certainly make an automaker take notice (to wit: Toyota). In Tesla's case, that means getting production capabilities on the ground in China as soon as possible. According to Bloomberg News, that could mean 2017. Or maybe not. Bloomberg, citing comments by Tesla chief Elon Musk made at Beijing's Geekpark Conference earlier this week, said the California-based maker of the Model S electric sedan may start making vehicles in China as soon as 2017 or 2018. Musk also envisions a substantial charging network throughout cities such as Beijing and Shanghai and obviously thinks the current Chinese resistance to plug-in vehicles will pass. The California-based automaker delivered its first nine Model S EVs in China this week. Of course, Musk has a way with hyperbole, and when contacted by AutoblogGreen, a company representative toned down such a timeframe. "We hope that local production in China is in Tesla's future so that we can manufacture our vehicles where they are sold," wrote Tesla spokeswoman Liz Jarvis-Shean in an e-mail to AutoblogGreen. "We aren't likely to produce cars in China within the next three to four years, however, nor are we currently in any serious discussions to do so." By making cars in China, Tesla, which opened a showroom in Beijing late last year, would avoid the 25 percent import tax China enforces on foreign-made vehicles. As it is, Tesla is pricing the 85-kilowatt hour version of the Model S at about $118,000 in China. That's about $47,000 higher than the US base price, but it's actually kind of "aggressive." Musk has said Tesla will sell as many as 5,000 vehicles in China this year, while Tesla executives have said they expect China to account for a third of Tesla's global sales this year and as much as half next year. Tesla sold about 22,300 vehicles in the US last year. Tesla has also started leasing the Model S in Switzerland for roughly $750 a month. Read more details in the press release below. Tesla and Sixt Leasing Announce Strategic Partnership in Switzerland ZURICH, April 22, 2014 /PRNewswire/ -- Swiss Customers Can Drive Model S for About CHF 660 per month, After Fuel and Tax Savings in Multiple Cantons Leasing Offer Includes Annual Service Performed by Tesla Tesla today announced an expansion of its strategic relationship with Sixt Leasing. Now Model S customers in Switzerland, as well as Germany, can benefit from compelling lease offers from Sixt Leasing.