US auto regulators probe Tesla on fires

U.S. auto regulators announced an investigation of Tesla Motors Inc. on Tuesday, Bloomberg reports.

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The probe comes after three Model S plug-in electric sedans caught fire within a span of five weeks, leading to a 37 percent drop in Tesla shares.

The U.S. National Highway Traffic Safety Administration said it will look into the fire risks when the sedan's undercarriage hits objects.

The investigation will involve all 13,108 Model S vehicles, the regulator said.

You can read more on the investigation and comments from Elon Musk, Tesla's CEO, here.