The BS about an oil leak turns out it was BS

GM was forced to make a statement :

Chevrolet has issued a statement regarding the fiery incident.
Trevor Thompkins, Senior Manager, Chevrolet Passenger Cars, Performance and Motorsports Communications at General Motors, said:

"A Corvette development vehicle undergoing extreme testing by one of our suppliers this week had a thermal incident.
All who were involved are safe as this is our top priority. We are investigating the situation with the supplier."

Whatever happens during the testing phase of a prototype, it's not indicative of the subsequent production model's reliability.

Work-in-progress cars break down all the time, and ideally, all issues are ironed out before shipping cars to customers.
In some unfortunate cases, the vehicle is well beyond the stage at which it could be rescued.
Something went horribly wrong this week with a Chevrolet Corvette test mule believed to be the E-Ray, as the supercar went up in flames.

Scary images of the aftermath show it completely burned down, up to the point it's not recognizable anymore.