Tesla Motors Plans IPO; Could Raise $100 million

February 2, 2010 /EIN PRESSWIRE/ Tesla Motors, one of the leaders of the new electric car industry and maker of the Tesla Roadster, has announced that it plans to go public.

The date for the initial public offering of stock for the Palo Alto, Calif.-based company has not been set, but it is expected that the stock sale could generate as much as $100 million.

Tesla Motors says that it has sold nearly 1,000 of its Roadster electric vehicles to date; each one costs more than $100,00 and can go for nearly 250 miles on a single charge. Tesla’s first sedan, the “Model S,” is expected to be available in 2012 with a base price of around $50,000.

The IPO would make Tesla Motors the first US auto company to go public in more than 50 years.

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