In a tragic incident early Wednesday, a Tesla Inc. (NASDAQ:TSLA) Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury. The vehicle reportedly ignited after the crash, prompting a rapid response from local authorities.

What Happened: The accident occurred around 3:10 a.m. as the occupants were returning from an event, reported the Associated Press,

Piedmont Police Chief Jeremy Bowers suggested that excessive speed might have been a factor in the single-vehicle crash. A fellow attendee, traveling separately, managed to rescue the surviving victim from the burning vehicle.

The identities of the victims have not been disclosed to protect family privacy. Despite police officers' extinguishers being ineffective, the fire department managed to extinguish the blaze quickly.

Piedmont Fire Chief Dave Brannigan noted that the rapid extinguishing indicated the Cybertruck's lithium-ion battery likely did not catch fire, describing it as a typical car fire.

Tesla did not immediately respond to Benzinga's request for comment.

Despite recent recalls of the Cybertruck, Chief Bowers stated there was no evidence of mechanical failure causing the accident. The Cybertruck has been recalled six times over the past year for various safety issues, including a recent recall on November 5 due to an electric inverter fault.

Why It Matters: This incident is the latest in a series of accidents involving Tesla vehicles.

In March, a Cybertruck crashed into the entrance of The Beverly Hills Hotel, with CEO Elon Musk attributing the accident to the vehicle's sports car-like agility.

In July, a severely damaged Cybertruck was put up for auction after a high-velocity collision.

Additionally, another fatal crash in France involved a Tesla vehicle that caught fire, resulting in four deaths.

The National Highway Traffic Safety Administration (NHTSA) has opened an investigation into nearly 2.4 million Tesla vehicles following reports of crashes involving the full self-driving system.

Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla's stock has gained 34%, according to data from Benzinga Pro.

Check out more of Benzinga's Future Of Mobility coverage by following this link.

• SpaceX's Starlink Direct-To-Cell Service Gets Commercial License From FCC: Here's What It Means

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock