Tesla Assembly Plant Accident Caused By Hot Metal

New details explain what happened at Tesla's TSLA factory in Fremont, California.

Benzinga confirmed yesterday afternoon that it was an industrial accident -- not a fire -- that led to three injuries at the factory.

According to a statement issued to Bloomberg, the injuries "were caused by hot metal resulting from 'a failure in a low pressure aluminum casting press.'"

Fremont Fire Department Captain Daniel Cardenas told the publication that the employees suffered "moderate to serious burns." He reiterated that no fire or explosion occurred at the factory.

When fire trucks were first spotted at Tesla's factory, many were concerned that a fire had occurred. Though it may have been completely unrelated to the three fires that plagued the Model S, investors were not excited to read another Tesla-related story with "fire" in the headline.

Tesla co-founder and CEO Elon Musk on Tuesday dismissed the negative media reports surrounding the Model S.

"There's definitely not gonna be a recall," Musk told CNBC. "There's no reason for a recall."

Related: Tesla Gives Back Monday's Gains

Musk added that the headlines have been "extremely misleading."

"We've never had a serious injury or death in any of our cars," he said. "Maybe there is a car that is as safe as a Model S, but there is certainly not a car that is safer, because you'd have to have less than zero [deaths]."

While Tesla is arguably the biggest stock on Wall Street, rising more than 292 percent year-to-date, shares are currently down more than one percent. The stock has fallen more than 22 percent over the last month.

The Model S fires may be the culprit, but Tesla shares also fell 10 percent after the company reported its third quarter earnings results.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.

Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ