Tesla Motors, the electronic car company filed paperwork signaling intent to go public, selling stock in an initial public offering (IPO). While no date has been set, the SEC paperwork filed indicated an offering of $100 Million.
Tesla Motors is most famous for making the first high performance electronic sports car. These cars are currently priced around $100,000 and have become a favorite among the silicon valley elites. Years ago silicon tycoons started placing orders before the first cars ever rolled off the assembly lines.
According to filed documents, Tesla Motors recorded sales of some $93.4 million in the first three quarters of 2009. Decent sales for a new auto company but losses were $31.5 million on those sales. This was an improvement over the same period as the year before when they lost over $50 million.
The underwriters include huge investment banks like JP Morgan, Goldman Sachs, and Morgan Stanley. If this IPO takes place in 2010, expect it to be one of the more exciting IPOs as silicon valley enters the auto industry.
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I don’t think Tesla will ever make it as a company, their product does not appeal to enough people.
It’s a sweeeeeet ride! To bad i’ll never have one
@Randy
What the hell are you talking about… the 2 cars that they have are definitely cool.
@Terry S.
Model S will be 50k $. The model after S will be even cheaper so don’t give up hope yet.
Wow, thats pretty insane when you think about it.
@mkrmec Tesla also announced they are going to get rid their roaster, cause it costs too much they can’t sell enough. I think it may be too much, and too little too late.
Once silicon valley gets into the picture and starts dumping money into Tesla motors I can see the cost of the car going down significantly. More money to play with equals more product to produce. Imagine the possibilities. Google + Tesla Motors. It will have everything you need, and if it doesn’t it will find it quicker than anything else.
Don’t know what is so surprising about Tesla’s IPO. The underwriters include JP Morgan, Goldman Sachs, and Morgan Stanley. Enough said?
i think the tesla s sedan will sell like hotcakes and the price will come down but even at
50k its a good price as i remember the hummer cost about the same and only gets 7mpg
what is even better is it will kill our dependence on foreign oil