NEWS: Tesla Preparing IPO?

By Andrew Peterson - November 23, 2009
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Electric sports car maker Tesla Motors has been around as a privately owned company for several years now, but that may change soon, according to people familiar with the situation. Anonymous sources say Tesla is outlining plans for an initial public offering.
Reuters reports that one of the sources said Tesla is expected to make an IPO filing any day. However, the person did not give a specific time frame for the offering.
Current interest in electric vehicles and green technology make this a perfect time for Tesla to offer stock to the public. This would also help the company raise cash to fund its Model S sedan, due as a 2011 model. Tesla’s only current model is the Lotus Elise-based Roadster.
Reuters contacted Tesla spokesman Ricardo Reyes, who declined to comment on what he called “rumor or speculation.”
Source: Reuters
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