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Monday, November 23, 2009
Report: Electric Car Maker Eyeing IPO
By Darryl R. Isherwood
FOXBusiness
Tesla Motors, maker of luxury-all-electric cars, is reportedly planning a stock offering. If the sale occurs, Tesla would be the first U.S. car company to issue shares since Ford Motor Co. (F) in 1956.
The six-year old Tesla, maker of the $109,000 Roadster, is expected to announce the public offering any day, sources told Reuters. A spokesman for Tesla would not comment on the potential IPO.
Company Chairman Elon Musk said last year that an IPO was possible in either late 2008 or 2009. A Tesla IPO would be the second major “green” public offering this year, following the successful issue of lithium-battery maker A123 Systems (AONE) in September.
Tesla is currently developing a lower cost electric model, which will carry a base price of $49,900.
Investors in Tesla include Google Inc. (GOOG) founders Sergey
Brin and Larry Page, as well as several venture capital funds.
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