Buy Your Share of Tesla Motors [Electric Car Company Tesla to Go Public]

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Despite a rough corporate history thus far, news giant Reuters is reporting that boutique car manufacturer Tesla is planning to have an IPO (initial public offering). Tesla currently produces an all-electric sports car with a proprietary electric drive train and uses a Lotus-produced body and chassis. The Tesla has a range of 244 miles and can go 0-to-60 in just 3.9 seconds.

Tesla’s publicly stated goal has been to first produce a limited number of expensive sports cars to fund the research and production of a wide-spread, more affordable consumer sedan. Tesla Motors was founded in 2003 by former PayPal executive Elon Musk.

Despite its lofty, green goals, Tesla’s road has been rocky. Just before the first few Tesla’s were released, the blogosphere reported that all of Tesla’s engineering team had been fired by Musk, reportedly over difficulties with the vehicle’s electric drivetrain.

Even after the cars started being delivered to customers, Tesla’s problems didn’t stop as the company was hit hard by the worldwide economic recession and Elon Musk announced that he was going to seek a $9 million loan from a bank. Tesla was instead bailed out by the US Government when they received a $425 million low interest loan from the US Department of Energy.

However, even with all their monetary and technological issues, Tesla appears that it will stay in business, and a source told Reuters that Tesla plans to cash in on Wall Street’s hunger for green technology. No date on the IPO was speculated on (unless you count “near” as a date) and Tesla officially had no comment on the IPO.