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Tags: electric car, electric vehicle, elon musk, ev, lotus, lotus elise, tesla, tesla ev, tesla investment, tesla ipo, tesla loan, tesla model s, tesla model s sedan, tesla motors, tesla roadster

Tesla Motors To Raise More Capital And Shelve The Roadster

Posted on 02 February 2010 by Scott Hayes

According to a recent filing with the Securities and Exchange Commission, Tesla Motors is planning to raise as much as US$100 Million in capital through the aide of public investors. While the entire auto industry is facing difficult times, Tesla hopes that they will be able to supplement the $465 Million loan from the federal government and claim a lasting stake in the new car market by increasing the public’s awareness about their intent to mass produce electric vehicles for a wide range of consumers.

The California based manufacturer is currently offering a lineup of only two cars, with the $100 000 Tesla Roadster leading the charge and the $60 000 Model S sedan following closely behind. By opening themselves up to public investors with an IPO, the electric car manufacturer is adding another element of uncertainty to their plans in an already unstable new car market. However, Telsa co-founder and CEO, Elon Musk, is no stranger to taking chances.

For example, when he decided to head in a different direction than the competition at Fisker Automotive by opening up a network of owned and operated freestanding dealerships, which gave him more control over the sales and service of his new products. Despite the expansion costs, moving from their California outlets to a host of major US cities and beyond, hasn’t taken a toll on the electric car builder so far.

However, new has recently surfaced that Tesla Motors plans to cease production of their flagship Roadster until 2013. This means the 2012 four door Model S will be left as the sole product to get the automaker through their period of public investment. It is believed that the decision was made due to the fact that Lotus are preparing for the next generation Elise, the vehicle upon which the Tesla Roadster is based, leaving the American manufacturer with a bit of downtime before they come back with an all new Roadster for 2013.

Adapted from TopSpeed

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