BREAKING: Tesla Motors Files S-1 Registration Statement for proposed IPO
Tesla Motors has filed the S-1 Registration Statement with the SEC for a proposed public offering of it’s common stock – the first such IPO from an American auto manufacturer since Ford went public in 1956.
While the filing is an exciting sign of growth at Tesla, there’s a bit of bad news buried in the paperwork for Roadster fans… apparently the current Roadster we’ve all come to love will not be built after 2011… possibly to be replaced with a new Roadster after Lotus re-tools their plant in England.
The Model S coupe is expected sometime in 2012.
For the first time in more than fifty years, a U.S. automaker is holding a public offering. Henry Ford made shares of Ford Motor Company public back in 1956. Tesla, the Elon Musk-owned Silicon Valley electric car company, filed to do so today. There’s no word as to when the shares will be available for public consumption, nor any word as to how much each share will cost…
The press release from Tesla Motors starts…
PALO ALTO, CA. – Tesla Motors, Inc. today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its common stock. Tesla Motors designs, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components. The number of shares to be offered and the price range for the offering have not yet been determined…
But Wired Autopia Blog finds some discouraging news in the IPO filings, Tesla Motors say they’ll stop building their popular Roadster sometime in 2011. Here’s why:
Wired’s Autopia was digging through the papers filed by Tesla to the Securities and Exchange Commission for its IPO and came across with this nugget:
“We do not plan to sell our current generation Tesla Roadster after 2011 due to planned tooling changes at a supplier for the Tesla Roadster.”
As everyone’s aware, the current iteration of the Tesla Roadster is built in Hethel, England by Lotus using Elise/Exige underpinnings. Judging by the quote above, that means the Elise/Exige is due to be replaced by a new model (good news for enthusiasts), but that leaves Tesla up a creek without the proverbial paddle.
The other telling line is this:
“As a result, we anticipate that we may generate limited, if any, revenue from selling electric vehicles after 2011 until the launch of the planned model S…”
Exciting days ahead for the EV enthusiasts for sure.