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Tesla Motors to File IPO, First Gen Roadster Production Ends in 2011
Electric car maker's initial public offering will be first U.S. automaker IPO since Ford Motor Co. (1956)
Tesla Motors weathered the rocky road of being a pioneer in the electric vehicle industry. Faced with financial ruin at every turn, the company instead beat the odds and found the narrow road to success. After a couple of limited edition 100-car series (beginning in 2006), full-scale production began March 2008. And last July, fueled by the popularity of its 2010 Tesla Roadster, the company achieved profitability for the first time.
"Profitable electric automaker" sounds like a loaded oxymoron if there ever was one, but Tesla Motors has shown that electric vehicles can be not only good looking, but good business as well. Its Roadsters have strong appeal among luxury buyers -- from the "green" factor, to the convenience of never getting gas, to the responsive performance of a powerful electric motor.
Thus when Tesla filed on Friday to make a $100 million USD public stock offering, it has turned many heads. The IPO from the six-year-old company could be the hottest of 2010 -- after all, there hasn't been an IPO from a U.S. automaker since Ford Motor Co. first issued public stock in 1956.
Tesla has not announced a date for the IPO, but it is expected to land before the end of 2010.
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Electric car maker's initial public offering will be first U.S. automaker IPO since Ford Motor Co. (1956)
Tesla Motors weathered the rocky road of being a pioneer in the electric vehicle industry. Faced with financial ruin at every turn, the company instead beat the odds and found the narrow road to success. After a couple of limited edition 100-car series (beginning in 2006), full-scale production began March 2008. And last July, fueled by the popularity of its 2010 Tesla Roadster, the company achieved profitability for the first time.
"Profitable electric automaker" sounds like a loaded oxymoron if there ever was one, but Tesla Motors has shown that electric vehicles can be not only good looking, but good business as well. Its Roadsters have strong appeal among luxury buyers -- from the "green" factor, to the convenience of never getting gas, to the responsive performance of a powerful electric motor.
Thus when Tesla filed on Friday to make a $100 million USD public stock offering, it has turned many heads. The IPO from the six-year-old company could be the hottest of 2010 -- after all, there hasn't been an IPO from a U.S. automaker since Ford Motor Co. first issued public stock in 1956.
Tesla has not announced a date for the IPO, but it is expected to land before the end of 2010.
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