When do you think Tesla Motors will have its IPO?
Pasquale asks:
Tesla Motors, the electric car company in California is going to first be delivering its roadster the end of this year and the beginning of 2008. Tesla Energy Group sells batteries, and already have a deal worth $43 million with Think!. Their next biggest project is the Whitestar: a sedan, that fits at least four that will sell for $50k-$60k. When do you think the company will go for its initial public offering (IPO)?
Tesla Motors, the electric car company in California is going to first be delivering its roadster the end of this year and the beginning of 2008. Tesla Energy Group sells batteries, and already have a deal worth $43 million with Think!. Their next biggest project is the Whitestar: a sedan, that fits at least four that will sell for $50k-$60k. When do you think the company will go for its initial public offering (IPO)?
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They just raised $45 million in series D funding last month, and did series C round last summer. Typically, series D is the final round, so I would speculate that an IPO would be in the next 1-3 years, if they are going to do one. The battery deal is nice, as it will give them economies of scale, and extra cash. Here is some more info on the latest funding:www.pluginamerica.com/images/PEHub_11may07.pdf .
If I were the company, I would want to do it when there is maximal buzz - famous people driving around the roadster, and the Whitestar sedan you mentioned is within a year or so of coming out. So sometime next year, maybe summer when gas prices are in focus because people travel a lot then, would be my guess.
It is a very exciting company! I’ve heard they are planning to have a solar cell system you can mount on the roof and charge yourself for a 50 mile drive in a day. Imagine using solely solar power to get to and from work every day!