Tesla Motors moves quickly again, announces $100 million IPO

James Raia

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.

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.

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