Written by Johnathan Bodily
Tesla Motors announced today filing of S-1 Registration statement for initial public offering with the SEC for a proposed initial public offering of its common stock.
Tesla Motors designs, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle power-train components. The number of shares to be offered and the price range for the offering have not yet been determined.
Tesla had been contemplating going public in 2008. The market had just tanked, and it was decided by Tesla executives to hold back. With the green markets ever expanding role Tesla is hoping to raise a sizable amount of investment and hopes to have the infrastructure in place to begin rolling the Model S off production lines in 2012.
With an expected sticker price of $57,000USD and a maximum range of up to 300 miles per charge (MPC. Tesla Motors expects sales to steadily increase, along with demand from manufacturers for power-trains for competing plug-in vehicles.
Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as the joint book-running managers for the offering.
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