Tesla IPO Likely in 2009
With Tesla’s first Roadsters finally landing stateside, (first production Roadster pics here), Silicon Valley’s electric car company is starting to get serious about its second line of cars: an electric sedan with the code name of White Star. The company tells the Financial Times that it plans to raise $250 million through both an IPO and debt financing over the next two years to get its White Star sedan to market. And Tesla’s VP of sales, marketing & service, Darryl Siry tells us this afternoon that a Tesla IPO will probably occur in 2009, and not likely this year.
With another $250 million (on top of the $140 million already raised) the company hopes to get its White Star to market by 2010. Given the long delays of the Roadster, we wouldn’t be surprised if the company overshot that deadline, too. Through its work on the Roadster the company has smoothed out many of the kinks that could trip up its all-electric sedan, but Tesla is also planning on adding a series-hybrid version of the White Star, so we’ll see how fast the company can best those technical hurdles.
Siry tells us that just last Thursday the company closed that round of $40 million, which we first reported back in December. And as early as the end of the second quarter, the company could unveil the design of its White Star vehicle for the first time. Showing off the next-gen vehicle before many customers even have their first long-delayed order, could be the ultimate sign of moving too fast, but, of course, we’ll be there front and center to bring you those pics.
To potential investors: A $20,000 battery that lasts 5 years and 100,000 miles equals 20 cents per mile (just the battery). An ordinary car burning $3/gallon gasoline and getting 30 miles/gallon equals 10 cents per mile (just the gasoline).
Hard to see how the Tesla makes sense unless they can drop the cost of their battery by a factor of 4 or better.
[...] argues a WSJ op-ed; that’s how more fuel-efficient cars came about in the past. And the market may be in the mood: Earth2Tech reports that electric car maker Tesla is planning its initial public offer as soon as [...]
[...] an electric roadster with plans for a hybrid family sedan, could go public as early as next year, earth2tech [...]
Better IPO ASAP – who knows when the first battery blows up while some dot.com guy goes in overdrive on 280 and deplets all the charge in a nanosecond. Some ugly visual with that and the nixing of the entire IPO window right there – blown in the wind of I-280… Got to happen at the Sand Hill Road exit… Some VA whiz kid making a movie on that ?
Jim, the whole idea is to bring down the battery cost dramatically once economies of scale are realized. Tesla investors and execs understand this… that is why they are starting at the top of the price/performance ladder and working their way down, until they are able to achieve high-volume at a lower price point.
[...] Motors, producatorul primei masini sport electrice de pe piata, vrea sa se listeze la bursa in 2009 si sa devina astfel companie publica. Face acest lucru pentru a putea strange 250 milioane de [...]
[...] a sedan codenamed White Star, to the market (see Green Cars Cruise Forward, as well as posts in Earth2Tech and VentureBeat). Siry gave more details at the Piper Jaffray event, saying that the company will [...]
Green energy is definitely the best solution in most cases. Technology like solar energy, wind power, fuel cells, zaps electric vehicles, EV hybrids, etc have come so far recently. Green energy even costs way less than oil and gas in many cases.
[...] the IPO, made the remarks on-stage at the TiECon conference in Santa Clara, Calif. Tesla reps had previously told us that an IPO this year was unlikely, so Musk appears to be speeding up the company’s time [...]
[...] deny that, but says at this point going forward the company can’t comment on financial plans. As we’ve previously reported Tesla has been eyeing an IPO, so perhaps this is the beginning of the lockdown. Reports earlier [...]
[...] The firm could be deciding to go public some time soon; back in February, Tesla told us that an IPO could occur as early as 2009. The startup does need someway to finance all of its production [...]
[...] didn’t respond to requests for comment on its IPO plans. But the company told us back in early 2008 that 2009 would be the year for its IPO (that was before the stock markets took a nose dive, and the appetite for IPOs dried up). Tesla CEO [...]
[...] didn’t respond to requests for comment on its IPO plans. But the company told us back in early 2008 that 2009 would be the year for its IPO (that was before the stock markets took a nose dive, and the appetite for IPOs dried up). Tesla CEO [...]