Tesla Motors preparing to go public "soon"

Next Story

This Week On TechCrunch: Real-time distractions, Indian outsourcing, rumours, layoffs and Scoble's brave new world of tweets

model-s

Tesla Motors is planning an IPO soon according to a Reuter’s report. However at this point it’s still not clear when that will be although the company had previously stated it won’t happen in 2009. In fact, this rumor has been around for sometime, but in case you didn’t notice, the stock market wasn’t doing that well until recently.

Tesla has been ramping up development of its all-electric Model S sports sedan and building selling Tesla Roadsters as quick as they can make ‘em. Of course the $597.5 million in funding that the company raised this year probably helps.

The bulk of that cash influx, $495 million, came from a Department of Energy loan. Daimler also came through with $50 million in exchange for 10% ownership of the young startup, while another round of funding earned Tesla $82.5 from Daimler, Fjord Capital Partners, Aabar and other undisclosed investors.

A Tesla spokesman dismissed the report as a “rumor or speculation” which very well could be the case. But if the company keeps on the its current path, whenever the IPO does happen, the company will probably not have any trouble finding investors.

blog comments powered by Disqus