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EV Maker Tesla Edges Closer to IPO

Founder Elon Musk also confirms plans for a Roadster replacement.

by on Apr.29, 2010

Tesla Motors founder Elon Musk, shown here with the Tesla Roadster, at the Detroit Auto Show, January 2009

The California-based electric vehicle manufacturer, Tesla Motors, is edging closer to an initial public offering, according to founder Elon Musk.

Musk also confirmed that Tesla is working on a replacement for its current 2-seat sports car, the Roadster, which will go out of production by 2012.  That timetable has been dictated by the British maker, Lotus, which supplies the chassis used by Tesla for its first production model.

“We hope to go public in a couple of months,” Musk said during a visit to Detroit, another company official noting that Tesla’s planned IPO has already gone through two rounds of reviews by the Securities and Exchange Commission since the company announced its interest in selling stock, back in February.

Charge Up!

Tesla has already formed an alliance with Daimler AG, which has purchased an 8% stake in the California start-up, and which will be using Tesla’s technology to power the new electric-powered Smart cars that will reach the market in the U.S. late this year or early 2011. Tesla has other projects underway with Daimler and is also discussing possible alliances with two other automakers, Musk said.


Tesla’s Musk Named Auto Exec of the Year

Sponsors skip the usual suspects for EV pioneer.

by on Feb.18, 2010

Tesla CEO Elon Musk, shown here with the company's Model S prototype, has been the wild card choice for Auto Exec of the Year.

With General Motors and Chrysler Group still recovering from bankruptcy, with so many mass dismissals at the highest levels, and with even the big-name foreign carmakers posting sales declines and plenty of red ink, the organizers of the annual “Executive of The Year” awards found themselves facing a tough challenge.

They resolved it — or ducked it, if you prefer – by turning to Silicon Valley.

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The 2010 Automotive Executive of the Year Innovator Award will be presented to Elon Musk, Chairman, Product Architect and CEO of the California start-up, Tesla Motors, organizers of the award program said Wednesday.

(The announcement came just before three Tesla executives were killed when a private plane they were traveling in crashed at the Palo Alto Airport, near Tesla headquarters.. Musk was not on board, Tesla officials said. Click Here for that story.)   (more…)