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Electric Carmaker Tesla preparing IPO: sources

Reuters.com -- By Poornima Gupta

SAN FRANCISCO (Reuters) - U.S. electric sports car maker Tesla Motors plans to go public soon, two sources familiar with the matter said, amid growing interest in green technology and battery-powered vehicles.

An IPO filing from the six-year-old start-up, best known for its $109,000 all-electric Roadster, is expected any day, said one of the sources. The person did not give a specific time frame, although IPOs typically take several months.

Tesla spokesman Ricardo Reyes declined to comment on what he called "rumor or speculation."

Tesla would mark the first public offering from a U.S. automaker since Henry Ford's Ford Motor Co debuted its shares in 1956. The IPO represents a landmark in the resurgence of electric car technology that most carmakers had dismissed as imp

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Submitted Nov 20, 2009 By: UncleCurt

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pigmanTX Champion Author Houston Posts:1,281 Points:369,735 Joined:Nov 2008	Message Posted: Nov 21, 2009 10:26:20 PM Ignore pigmanTX Report Abuse I will buy shares in this company when they are available.
remay Champion Author Houston Posts:2,222 Points:1,153,915 Joined:May 2006	Message Posted: Nov 21, 2009 9:24:42 AM Ignore remay Report Abuse I can't support a company that is out of touch with the masses.
captngasTN Champion Author Tennessee Posts:1,735 Points:425,240 Joined:Jun 2009	Message Posted: Nov 21, 2009 6:02:34 AM Ignore captngasTN Report Abuse Seems the equities market is the place to be.
Don1222 Champion Author Michigan Posts:6,197 Points:761,105 Joined:Jul 2008	Message Posted: Nov 21, 2009 6:01:37 AM Ignore Don1222 Report Abuse Support alternative energy and The USA. Buy American made in The United States.
calypso93 Champion Author Scranton Posts:7,998 Points:1,000,000 Joined:Mar 2004	Message Posted: Nov 21, 2009 5:57:21 AM Ignore calypso93 Report Abuse Comparing them to the perfromance of A123 battery company may not be good. A123 ran strong from the IPO and a week or two. Look up the symbol A123 and see how it's doing.
katmandue Champion Author Detroit Posts:3,140 Points:1,169,705 Joined:Jul 2006	Message Posted: Nov 21, 2009 5:55:44 AM Ignore katmandue Report Abuse Unless the cars can be recharged using solar energy they are no better than gas powered cars.
nstrdnvstr Champion Author Twin Cities Posts:29,503 Points:3,013,685 Joined:May 2001	Message Posted: Nov 21, 2009 5:52:38 AM Ignore nstrdnvstr Report Abuse I think the economy has to improve quite a bit before sales will be good.
colt453162 All-Star Author Houston Posts:625 Points:305,170 Joined:Mar 2008	Message Posted: Nov 21, 2009 5:50:55 AM Ignore colt453162 Report Abuse With the amount of money they were given by the government from the people, they should be able to just give the first shippment away for free because the American public has already paid for them.
paoli8 Champion Author Philadelphia Posts:2,962 Points:927,685 Joined:Jul 2007	Message Posted: Nov 21, 2009 5:48:42 AM Ignore paoli8 Report Abuse Risky investment!
101Speedster Champion Author Ventura Posts:20,946 Points:1,833,340 Joined:May 2005	Message Posted: Nov 21, 2009 5:40:06 AM Ignore 101Speedster Report Abuse Tesla, the leader in electric cars, will be a great stock to own.
Dkrdj5 Champion Author Jacksonville Posts:2,249 Points:335,725 Joined:May 2009	Message Posted: Nov 21, 2009 5:37:36 AM Ignore Dkrdj5 Report Abuse Let them offer their IPO, I've no money to buy stock.
P H Champion Author Albany Posts:41,447 Points:1,440,305 Joined:Jan 2004	Message Posted: Nov 21, 2009 5:35:50 AM Ignore P H Report Abuse Initial Public Offering (Going Public with common stock offering)
fordfan1 Champion Author Indiana Posts:4,174 Points:912,165 Joined:Jul 2007	Message Posted: Nov 21, 2009 5:34:48 AM Ignore fordfan1 Report Abuse To expensive for everyday people to drive and own!
Fitwit Champion Author Stockton Posts:2,072 Points:450,820 Joined:May 2009	Message Posted: Nov 21, 2009 5:33:28 AM Ignore Fitwit Report Abuse IPO?
TommyTraveler Champion Author Cincinnati Posts:3,676 Points:719,005 Joined:Nov 2007	Message Posted: Nov 21, 2009 5:29:30 AM Ignore TommyTraveler Report Abuse Too expensive for the Joe Sixpack. Need more developement to bring down price and increase performance qualities.
naw62 Champion Author Maine Posts:4,540 Points:1,244,795 Joined:Sep 2006	Message Posted: Nov 21, 2009 5:28:12 AM Ignore naw62 Report Abuse The electric cars on"t ork
BigDogOH Champion Author Cincinnati Posts:3,527 Points:828,390 Joined:Mar 2008	Message Posted: Nov 21, 2009 5:19:29 AM Ignore BigDogOH Report Abuse Too expencive / takes too long for reccarge,take a week to drive to Florida
mecforyou All-Star Author Iowa Posts:798 Points:460,625 Joined:Jul 2007	Message Posted: Nov 21, 2009 5:12:21 AM Ignore mecforyou Report Abuse A hot rod that doesn't roar
Paw5X Champion Author Gary Posts:5,699 Points:1,540,395 Joined:May 2005	Message Posted: Nov 21, 2009 5:10:35 AM Ignore Paw5X Report Abuse Still not sold on electric vehicles, to many questions unanswered and not cost effective as of yet!
Petrock Champion Author Lexington Posts:4,403 Points:1,600,480 Joined:Apr 2005	Message Posted: Nov 21, 2009 5:09:16 AM Ignore Petrock Report Abuse I could interpret this to mean that the owners of Tesla see a downturn in the electric car market and want to take their profit while they can. If they expected the electric car market to explode would they be selling out now? I doubt it. If they need working capital Obama would give it to them.
dhawk24 Champion Author Maine Posts:3,048 Points:671,380 Joined:Jul 2008	Message Posted: Nov 21, 2009 5:04:51 AM Ignore dhawk24 Report Abuse I will stick with gas, even if it is 10% ethanol...
Mr.Chips Champion Author Michigan Posts:4,443 Points:1,217,625 Joined:Mar 2004	Message Posted: Nov 21, 2009 4:59:58 AM Ignore Mr.Chips Report Abuse $109K, NOT!
ifallsguy Champion Author Minnesota Posts:2,718 Points:754,800 Joined:Apr 2007	Message Posted: Nov 21, 2009 4:58:31 AM Ignore ifallsguy Report Abuse Anyone here really serious about electric cars? Now is the time to put your money where your mouth is and buy this stock when it opens up.
Hunter724 Champion Author New Hampshire Posts:3,195 Points:667,195 Joined:Sep 2008	Message Posted: Nov 21, 2009 4:56:51 AM Ignore Hunter724 Report Abuse Would be willing to evaluate a Roadster for the company..
BM4225 Champion Author Atlanta Posts:5,457 Points:1,173,355 Joined:Aug 2006	Message Posted: Nov 21, 2009 4:55:54 AM Ignore BM4225 Report Abuse At $100K a car, this company doesn't have to sell a million cars to make a profit, and stay in business. Just look at some of the Italian cars, Ferrari, and Maserati. Not saying this car is in their class, but at that price, there are enough of those who want, and willing to purchase one. As for the masses like me, I will wait for the to get to the used car market, and go to Carmax.
INDY51 Champion Author North Carolina Posts:1,481 Points:335,015 Joined:Jun 2009	Message Posted: Nov 21, 2009 4:43:21 AM Ignore INDY51 Report Abuse WHILE ELECTRIC CARS ARE SEEMINGLY PART OF OUR FUTURE,I FEEL MUCH MORE ALL INCOMPASING RESEARCH IS NEEDED.BEING THE FIRST DOESN'T MEAN BEING THE BEST.
LCSTEELERBOB Champion Author Gary Posts:1,588 Points:366,895 Joined:Oct 2008	Message Posted: Nov 21, 2009 4:43:08 AM Ignore LCSTEELERBOB Report Abuse if it works and they can find a market that works great
findcheap Champion Author Los Angeles Posts:4,648 Points:1,030,665 Joined:Apr 2007	Message Posted: Nov 21, 2009 4:42:15 AM Ignore findcheap Report Abuse Just something for the people from prestige
fratt Champion Author Grand Rapids Posts:4,929 Points:1,667,205 Joined:Jul 2005	Message Posted: Nov 21, 2009 4:39:17 AM Ignore fratt Report Abuse To rich for my blood.
jimraehl Champion Author Utah Posts:2,167 Points:666,615 Joined:Sep 2008	Message Posted: Nov 21, 2009 4:31:56 AM Ignore jimraehl Report Abuse I'm not buying into this IPO. Too risky.
Kamakani Champion Author Hawaii Posts:1,864 Points:573,540 Joined:Oct 2008	Message Posted: Nov 21, 2009 4:19:18 AM Ignore Kamakani Report Abuse I wish I could afford one.
Doubleeez Champion Author Connecticut Posts:2,732 Points:544,215 Joined:Sep 2005	Message Posted: Nov 21, 2009 4:17:36 AM Ignore Doubleeez Report Abuse Will only appeal to a selective market because of price of car which is NOT for the general public.
jes Champion Author Pennsylvania Posts:11,460 Points:2,396,535 Joined:Jun 2003	Message Posted: Nov 21, 2009 4:10:10 AM Ignore jes Report Abuse I wish them well, but that isn't a car priced for the general public.
CPR54 Champion Author Austin Posts:5,554 Points:1,336,550 Joined:Jul 2006	Message Posted: Nov 21, 2009 4:07:22 AM Ignore CPR54 Report Abuse make it affordable
la90042 Champion Author Los Angeles Posts:2,402 Points:505,405 Joined:Nov 2008	Message Posted: Nov 21, 2009 4:05:39 AM Ignore la90042 Report Abuse need to bring prices down and make the cars more affordable to more folks.
ED6 Champion Author Riverside Posts:5,143 Points:999,635 Joined:Jul 2007	Message Posted: Nov 21, 2009 4:02:49 AM Ignore ED6 Report Abuse I hope it's not price like Google.
lisamls Sophomore Author Sacramento Posts:121 Points:28,825 Joined:Jul 2008	Message Posted: Nov 21, 2009 4:01:18 AM Ignore lisamls Report Abuse shocking
jeepman64 All-Star Author Indiana Posts:909 Points:847,660 Joined:Aug 2004	Message Posted: Nov 21, 2009 3:59:58 AM Ignore jeepman64 Report Abuse Wonder what the IPO price will be. Hopefully not as much as the car.
sssowinski Sophomore Author Sacramento Posts:170 Points:38,215 Joined:Jul 2008	Message Posted: Nov 21, 2009 3:44:13 AM Ignore sssowinski Report Abuse good/bad
saveongasNC Champion Author North Carolina Posts:3,287 Points:721,750 Joined:Aug 2008	Message Posted: Nov 21, 2009 3:36:57 AM Ignore saveongasNC Report Abuse I was told that was one ugly car!!!
TIGERPAW46 Champion Author Florida Posts:2,776 Points:523,325 Joined:Mar 2004	Message Posted: Nov 21, 2009 3:33:06 AM Ignore TIGERPAW46 Report Abuse Of course everyone knows exactly what IPO stands for. I love the way they like to throw around abbreviations without first listing them properly. Although you can somewhat infer it from the story. Like maybe I. Public Offering (Stock options). I thought proper method was to list names with abbreviations first or footnotes. Great journalism. I guess I'll just SOFN because TGIF & we're all SOL anyway with SLT.
jackson661 Champion Author Columbus Posts:1,734 Points:571,910 Joined:May 2006	Message Posted: Nov 21, 2009 3:32:32 AM Ignore jackson661 Report Abuse Good luck Tesla Motors.
CruisinLinda Champion Author Tallahassee Posts:6,436 Points:1,290,435 Joined:Sep 2005	Message Posted: Nov 21, 2009 3:31:57 AM Ignore CruisinLinda Report Abuse If Tesla goes public and raises a lot of money selling stock, maybe it will start mass producing its vehicle, which could cut the cost in half. [Edited by: CruisinLinda at 11/21/2009 4:32:55 AM EST]
CokerNut Champion Author Alabama Posts:1,105 Points:398,800 Joined:Oct 2008	Message Posted: Nov 21, 2009 3:28:52 AM Ignore CokerNut Report Abuse 109K for a car, they must be out of there minds!
1RedJellyBean Veteran Author Greensboro Posts:452 Points:208,925 Joined:Jan 2009	Message Posted: Nov 21, 2009 3:26:47 AM Ignore 1RedJellyBean Report Abuse Meanwhile, gas prices here have been holding about the same for over 2 weeks now. Have a BLESSED weekend! Psalm 121
twobroke61 Champion Author Michigan Posts:3,433 Points:618,760 Joined:Sep 2008	Message Posted: Nov 21, 2009 3:20:34 AM Ignore twobroke61 Report Abuse way out of my price range
gordonfan05 Champion Author Georgia Posts:1,868 Points:659,960 Joined:Apr 2005	Message Posted: Nov 21, 2009 3:10:18 AM Ignore gordonfan05 Report Abuse I am sure they will find some investors for their ipo but not as many as they would had their car been more affordable to a wider range of consumers.
ILVET Champion Author Illinois Posts:9,885 Points:1,959,870 Joined:Jan 2005	Message Posted: Nov 21, 2009 3:08:17 AM Ignore ILVET Report Abuse Its just priced too high for me
rjn5851 Champion Author Florida Posts:9,717 Points:2,021,430 Joined:Jun 2004	Message Posted: Nov 21, 2009 3:03:59 AM Ignore rjn5851 Report Abuse good for them...........
HawaiianGuy Champion Author Idaho Posts:4,586 Points:2,109,420 Joined:May 2003	Message Posted: Nov 21, 2009 2:48:02 AM Ignore HawaiianGuy Report Abuse Time will tell. For the record, I couldn't afford a vehicle that's even half of what they're asking for that car.