Tuesday, June 29, 2010

Tesla shares in strong demand after IPO

Wonderful story that ive been tracking for a few years!

FT.com / Companies / Automobiles - Tesla shares in st

The carmaker, based in San Carlos, CA, had on Monday increased the number of shares it was selling to 13.3m from 11.1m and said they would be priced at $17 each, higher than the $14 to $16 range it had previously estimated.

Tesla plans to use the IPO proceeds to help fund its move into production of a mass-market saloon car, the Model S, which will cost about $50,000 including a US government subsidy for plug-in cars.


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