The anonymous sources said that the six-year-old U.S. start-up, is expected to file an IPO (Initial Public Offering). That wouldn't meant that the company would actually become public on that day, but rather that Tesla Motors filed the appropriate paperwork to go public at some later date.
Tesla Motor's chairman Elon Musk said early in 2008 that an IPO for the company was a possibility in either late 2008 or 2009. The financial turmoil caused by the collapse of the mortgage and credit markets, and the global recession put a halt to the IPO market, however. The last automotive company to go public in the U.S. was Ford Motor Co. in 1956.
While Tesla Motors focuses on all-electric cars, it's not thought of as a green automaker as much as say, Toyota, because of the price of its price tag. Ford, GM, Nissan and Toyota are all looking to introduce either all-electric or plug-in hybrid vehicles in the future, which gives Tesla plenty of competition.
So far Tesla's history hasn't been a smooth one. The company has had to face cost overruns and production delays for the Roadster. The company is developing a second, lower-cost model, a sedan known as the Model S, which will have a base price of $49,900. Tesla said in September it delivered 700 Roadsters since February 2008.
Written by Michael Santo
HULIQ
Posted November 20th, 2009 by Michael Santo
