NEW YORK (TheStreet) -- Tesla Motors (TSLA) shares are down -1.2% to $226.49 on Monday following a weekend incident in which a Los Angeles man stole a Model S sedan, led police on a high speed chase, crashed the car into several other vehicles before hitting a light pole which causing the vehicle to split in half and sparked a battery fire.
Vehicle speeds during the chase reached over 100 mph and although the crash involved multiple vehicles and several injuries. No fatalities were reported.
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Tesla CEO Elon Musk is working with the LAPD in an effort to figure out what what exactly happened during the incident.
"There aren't so many S's involved in major crashes, and certainly not quite like this one, so we absolutely want to have a look to understand what happened," company spokesman Simon Sproule told Bloomberg in an interview yesterday.
TheStreet Ratings team rates TESLA MOTORS INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation: