California start-up electric car manufacturer Tesla Motors has filed an IPO of up to $100 million. The Tesla IPO marks the first time since 1956 that an American auto maker has offered an IPO, when Henry Ford first offered shares of FoMoCo.
No pricing details were released, nor an exact time of debut. The offering also marks a significant resurgence in electric car interest.
The SEC filing said that Tesla has sold 937 Roadsters in 18 countries since its inception. The company also holds about 2,000 reservations for the Model-S which is still in development, and has generated around $108.2 million in revenue through September.
– By: Stephen Calogera