The Weekly Driver

Website • Podcast • Newsletter

Established 2004

Tesla Motors moves quickly again, announces $100 million IPO

Tesla Motors moves quickly again, announces $100 million IPO 1Tesla Motors, Inc., the California-based electric car manufacturer, has announced plans to go public with an estimated $100,000 million stock offering. The move, according to the filing with the Securities and Exchange Commission, does not include a date when the company named after scientist Nikola Tesla will start selling stock or at what price per share.

[ad#post]

The public offering has been rumored for months.

Headquartered in San Carlos, California, Tesla makes the $109,000 Roadster sports car. It has plans to start selling less expensive models including the model-S at around $60,000, $10,000 less with tax credits.

Tesla Motors moves quickly again, announces $100 million IPO 2

The model-S will have three battery pack options for a range of up to 300 miles per charge.

Tesla has taken more than 1,500 reservations for the Model S and expects to begin production in late 2011 for the 2012 model-year.

Tesla said it lost money between 2006 and 2008, and in the first nine months of last year reported losses of $31.5 million.

Tesla has been selling its all-electric Roadsters for nearly two years, and it’s the only highway-capable electric vehicle available to the public in volume. After various federal and additional credits available in some states, the Roadster’s price can be reduced more than $40,000.

According to the SEC filing, in the nine months ended Sept. 30, Tesla’s loss narrowed to $31.5 million from a year-earlier loss of $57.3 million. Tesla’s revenue catapulted to $93.4 million from $580,000.

Subscribe!

To get our weekly newsletter with automotive news and commentary delivered to your email inbox.