Tesla Motors Plans Public Offering to Raise $100 Million

SEC filing states Model S will feature battery pack that is 'rapidly swapped out at specialized commercial battery pack exchange facilities.'

Published: 30-Jan-2010

SAN FRANCISCO - Tesla Motors, the electric car company in Silicon Valley, said on Friday that it had filed plans to sell shares to the public.

In a filing with the Securities and Exchange Commission, Tesla said it was seeking to raise $100 million in an initial public offering, though that amount could change. An offering would be a vindication for the company, which has struggled, sometimes publicly, with technological problems, production delays and internal turmoil.

Elon Musk, Tesla’s chief executive, has also battled critics who have doubted whether the company could ever succeed financially.


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