US electric carmaker Tesla plans public stock offering

Jan 30, 2010

US electric carmaker Tesla Motors said on Friday that it plans an intial public offering of stock that could raise as much as 100 million dollars.

In a filing with the Securites and Exchange Commission and a statement, Tesla said the price range and exact number of shares had not been decided.

The Palo Alto, California-based automaker also did not set a date for the IPO.

Founded in 2003 by South African Elon Musk, a co-founder of online payments giant PayPal, Tesla specializes in environmentally friendly .

The Tesla Roadster, a high-performance sports car, costs more than 100,000 dollars and can go nearly 250 miles (400 kilometers) on a single charge.

In its SEC filing, Tesla said it had sold 937 Tesla Roadsters to customers in 18 countries as of December 31.

Tesla is also making a "Model S" five-passenger sedan powered by lithium-ion battery packs capable of between 160 and 300 miles (257 and 482 kilometers) per charge.

The Model S, expected in 2012, has an anticipated base price of around 50,000 dollars.

According to the documents filed with the SEC, Tesla has generated total revenue of 108.2 million dollars since it was founded and has accumulated a deficit of 236.4 million dollars as of September 30.

The company said it had a net loss of 31.5 million dollars for the nine months which ended September 30, 2009.

German luxury carmaker Daimler took a 10-percent stake in Tesla in May of last year and sold 40 percent of its stake in July to Aabar Investments group of the .

Last year, Tesla received a 465-million-dollar loan from the US Department of Energy's Advanced Technology Vehicles Manufacturing Incentive Program to help it build the Model S.

According to US press reports, Tesla would be the first auto company to go public since Ford did so in 1956.

Explore further: Record labels sue Pandora over older songs

add to favorites email to friend print save as pdf

Related Stories

Tesla to unveil electric 5-seat sedan next week

Mar 19, 2009

US electric automaker Tesla Motors, which launched a breakthrough gas-free sports car last year, announced Thursday it will unveil in coming days a five-seat sedan, to roll off assembly lines by 2011.

Tesla unveils groundbreaking electric car

Mar 26, 2009

US automaker Tesla Motors unveiled Thursday its state-of-the-art five-seat sedan, billed as the world's first mass-produced, highway-capable electric car.

Tesla Roadster Goes 313 Miles on a Single Charge

Nov 09, 2009

(PhysOrg.com) -- Tesla is becoming synonymous with high performance electric cars. Indeed, the Tesla car company has been making efforts to create a brand of sports car that runs on electricity, and does so ...

Recommended for you

Venture investments jump to $9.5B in 1Q

11 hours ago

Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into an increasing number of deals, according to a report due out Friday.

Weibo IPO below expectations, raises $285.6 mn

Apr 17, 2014

Sina Weibo sold fewer shares than expected in its US IPO which was priced below expectations ahead of a Thursday listing that takes place after tech selloffs on Wall Street.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

Roj
not rated yet Jan 30, 2010
Founded in 2003 by South African Elon Musk
Financial analysts could see Tesla's IPO as an exit strategy for Musk's investors.

New stock valuation allows investors to cash out, after exploiting gains from acquisition (resale). Tesla may be first in and first out of the plug-in ventures.

If Tesla sells, Big fossil-fuel automobile Mfg's that neglected (plug-in) R&D can acquire the intellectual-property rights when the market is ripe.

With its belly full of plug-in technology the big fish can monopolize the market again, as other plug-in companies scramble for competitor acquisitions.

More news stories

LinkedIn membership hits 300 million

The career-focused social network LinkedIn announced Friday it has 300 million members, with more than half the total outside the United States.