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Tesla Model S
Tesla may raise as much as $180 million

One of the most recognizable names in the burgeoning electric car market is Tesla. The company has been offering its Roadster since 2008. The Roadster is positioned as a luxury sports car with performance capable of matching that of some combustion engine powered sports cars.

MarketWatch reports today that the Tesla IPO is set to start on June 29 (it announced its intent to file an IPO back in January). The company plans to offer 11.1 million shares at a price of $14 to $16 per share. As soon as the IPO starts, Tesla has agreed to sell $50 million of its stock to Toyota. It was also revealed that Tesla is purchasing the idled NUMMI auto manufacturing facility, located in Fremont, California, for $42 million.

Tesla will trade with the ticker symbol TSLA. The SEC filing that Tesla filed lists shareholders with more than 5% ownership in the company including Elon Musk, Al Wahada Capital Investment LLC, Blackstar Investco LLC, VantagePoint Venture Partners, and Valor Equity Partners.

Tesla was also granted a $465 million loan by the U.S. Energy Department this year. So far, Tesla has drawn over $45 million in funds from that loan reports 
MarketWatch as of June 14. Tesla's IPO is set to raise as much as $180 million, much more than Tesla stated it would raise in January.

In May, Tesla announced a broad partnership with Toyota – the pair is teaming to produce electric vehicles at the NUMMI plant.

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By Reclaimer77 on 6/16/2010 3:17:00 PM , Rating: 2
This could be the foundation of an excellent, high quality and eventually affordable line of electric cars.

Who in the hell want's that? Batteries are for toys. And where do you people think that electricity comes from? Fossil fuels mostly. Tesla's are landfill queens, they don't reduce pollution, they just shift the pollution to a different area.

I can stop and fill up my car anywhere at any time. Electric simply isn't ready yet, it's being FORCED on the market by Government "loans". We need some serious Iron Man Star Trek type advancements before electric is really ready for prime time in everyone's garage.

All Tesla proves is there are enough idiots willing to plop down 100+k to be different. Well, big deal. It's laughable that you think somehow this will lead to a breakthrough. Tesla isn't an R&D firm. They didn't develop this technology, they are just throwing it in fancy cars.

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