Tesla Ups IPO Prediction Over $170 Million
Well, not quite yet.
Tesla, which has lost money hand over fist since inception, believes it can make an IPO of $178 million, up from a January estimate of $100 million. The automaker plans to sell just over 11 million shares, at $14 to $16 each, and will be bolstered by a $50 million investment from Toyota.
Currently, Tesla's earnings stand at $147.6 million, since 2003, contrasted against losses of more than $290 million. So far, the money comes from the sales of its one offering, the Tesla Roadster, though Tesla has teased a sedan, the Model S.
Tesla is also reportedly working on a sedan, in collaboration with Toyota, that will compete in the $50,000 range. We've already reported on the two brands working together, and are curious to see if Tesla can make good on the deal.