Tesla Motors is planning an IPO soon according to a Reuter’s report. However at this point it’s still not clear when that will be although the company had previously stated it won’t happen in 2009. In fact, this rumor has been around for sometime, but in case you didn’t notice, the stock market wasn’t doing that well until recently.
Tesla has been ramping up development of its all-electric Model S sports sedan and building selling Tesla Roadsters as quick as they can make ‘em. Of course the $597.5 million in funding that the company raised this year probably helps.
Tesla Motors has been hit hard with credit crunch of late, but the billionaire founder of Telsa and PayPal has personally guaranteed that all of the 1,200 battery-powered Tesla Roadster pre-orders will be filled. So far, only 60 of the 1,200 cars have been delivered and the company seems to be consolidating after shutting down and laying off 90% of the Detroit, MI office. However, with this latest round of financing of $20 million and $200 million from a U.S. Department of Energy loan, the company hopes to be continue operations. Hopefully, operations will continue enough to not only build all the Roadster pre-orders but also the sexy BMW 5 series, sports-sedan Model S. recently announced. (Pictured above)
Tesla Motors has hired former Chrysler Executive Michael Donoughe to oversee the company’s engineering and manufacturing processes as executive vice president.
The 220 miles-per-charge electric Tesla Roadster that sells for more money than most people make in a year will soon be joined by a more consumer-friendly four door sedan. Donoughe should be well-suited for his new role, as he “previously headed the global mid-size vehicles program at Chrysler,” according to San Jose Mercury News.
Tesla also announced that it’ll build a new production factory in the San Francisco area instead of New Mexico, citing tax incentives offered by California.
Tesla motors, the company that gave us Roadster and EV1 super-fast all-electric cars, is planning a gas-electric hybrid soon. The car, called the Whitestar, should cost between $50,000 and $70,000 and will also come in an all-electric version. The car, called a REV (Range-extended Vehicle) will go considerably farther on one charge than the 150-200 mile range of the all-electric models.
Tesla to make gas-electric car [News.com.com.com]
