The Fremont Fire Department on Monday extinguished a fire at Tesla Inc.'s (NASDAQ:TSLA) Fremont factory, where the company manufactures its Model 3, Y, S, and X vehicles.
What Happened: The 2-alarm fire started in an oven in a two-story building at Tesla's Fremont factory, the Fire Department reported. No injuries were reported, and all employees were safe and accounted for.
The department is currently investigating the cause of the fire.
Tesla did not immediately respond to Benzinga's request for comment on the incident.
Why It Matters: Tesla's Fremont factory, located in California, is one of the largest manufacturing sites in the state. The facility has an installed annual vehicle capacity of 650,000 vehicles, including 100,000 for its premium Model S and X.
Earlier this year, Tesla attributed an 8.5% year-on-year decline in its first-quarter vehicle deliveries to difficulties in ramping up production of the refreshed Model 3 at the Fremont factory, among other reasons.
Price Action: Tesla shares closed 1.4% down at $174.95 in the previous session but were up marginally after the closing bell, according to data from Benzinga Pro.
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