Elon Musk Says Tesla Fires Are Overblown

And he tries to spin the plummeting stock prices.

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Stephen Lam / REUTERS

Elon Musk, Chief Executive of Tesla Motors and SpaceX, smiles during the Reuters Global Technology Summit in San Francisco June 18, 2013.

In a CNBC interview Tuesday at the New York Times’ DealBook conference, Tesla CEO Elon Musk said that concerns over the three fires in the company’s electric sports cars are being overblown.

He said that he’d spoken with the three drivers and that in all three cases they had said they thought the Tesla car saved them from harm and asked them for a replacement Model S as soon as possible. “We’re now held to a much higher standard,” Musk said, adding, “There’s no reason for a recall.”

Shares of Tesla peaked on Sept. 30 but then dropped after the fires. Of the market, Musk said, “I think the high stock price was sort of distracting,” and suggested that Tesla stock is a good deal right now.