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Electric carmaker Tesla files for IPO

Posted on Monday, February 1st, 2010 at 2:34 PM EST.(Employee News)

U.S. electric sports car maker Tesla Motors filed for an initial public offering of up to $100 million, aiming to cash in on growing investor interest in battery-powered vehicles and green technology, Reuters reported.

The IPO filing on Friday from the six-year-old start-up, best known for its $109,000 all-electric Roadster, marks the first public offering from a U.S. automaker since Henry Ford’s Ford Motor Co. made its share debut in 1956, the news service said. It also represents a landmark in the resurgence of electric car technology that most carmakers until recently had dismissed as impractical, Reuters said.

Tesla’s IPO, with underwriters including Goldman Sachs, Morgan Stanley, JP Morgan and Deutsche Bank Securities, should generate enthusiasm for IPOs generally, analysts told the news service. Ben Holmes, founder of Morningnotes.com, said an IPO is sometimes the best form of advertising, especially if the deal is successful, for companies like Tesla, the story said. (Reuters)
 
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