U.S prompted federal investigation into fatal Tesla crash, fire in California

Vastavam web: A fatal crash and vehicle fire of a Tesla Inc (TSLA.O) Model X near Mountain View, California, last week has prompted a federal field investigation, the U.S. National Transportation Safety Board said on Tuesday, sparking a big selloff in Tesla stock.Tesla tumbled 8.2 percent, or $25 a share, to close at $279.18, the lowest close in almost a year, after news of the investigation.Tesla has $230 million in convertible bonds maturing in November 2018 and $920 million in March 2019.

Moody’s said its negative outlook for Tesla “reflects the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall.”Moody’s said Tesla is targeting weekly production of 2,500 Model 3 vehicles by the end of March, and 5,000 per week by the end of June, down from the company’s year-earlier production expectations of 5,000 per week by the end of 2017 and 10,000 by the end of 2018. Tesla plans to provide an update on Model 3 production next week.