Mr. Elon Musk, Chairman of Tesla Motors, says that he believes that the company will be able to raise as much as $100 million in an IPO later this year; this, in an economy that has others cancelling their public offerings in light of declining growth and expectations.
Tesla, backed by some big names, has had some great publicity that many analysts believe will help them with a successful offering irrespective of the economy. Mr. Musk, himself, a co-founder of Paypal (now owned by eBay) has rounded up investor support from others such as Sergey Brin and Larry Page who have already placed orders for their own Tesla cars - all of which has helped attract attention to the company's all-electric sports cars.
Mr. Musk suggested that the company will seek one more round of funding to help bridge its plans for developing its whispered-about luxury model before pushing for the IPO. With its current, standard, model fetching about $100,000, the price of its luxury model will not be cheap. Of course, with the public's ongoing penchant for all-things-green, there's little doubt that it's Lotus Elan-inspired model will continue to turn heads and empty wallets.
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