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Tesla, maker of electric car, plans stock offering

Associated Press / January 30, 2010

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NEW YORK - Electric car manufacturer Tesla Motors Inc. said yesterday it plans to sell stock to the public.

The company, based in Palo Alto, Calif., did not disclose in a filing with the Securities and Exchange Commission specifically how much it plans to raise though it listed $100 million as a placeholder figure. The actual amount it raises could be higher.

Tesla also did not give a date for when it plans to launch the IPO, nor did it say how many shares it would sell or at what price.

A Tesla IPO has been widely anticipated. The company has garnered attention for its high-end Roadster, an all-electric sports car that retails for $109,000.

The two-door Roadster is the only model Tesla currently sells, but the company plans to start selling a four-door sedan in 2012.