Tag Archives: tesla

Successful Tesla IPO “Charges” Electric Car Market


In the midst of a struggling economy, it always feels good to hear about a company that has managed to carve out some success despite the trying times. It feels even better when that company is a key player in the green technology sector. In this case the company is Tesla Motors [Nasdaq: TSLA], the manufacturer of the groundbreaking Tesla Roadster.

A June IPO (Initial Public Offering) for Tesla managed to raise 200 million dollars in equity financing for the company, the first US automaker to go public in 54 years. The success of their financing push in the midst of the current financial turmoil is an encouraging sign for the electric car market in general, signaling that investors (and hopefully consumers) are ready to move on the technology. In addition since IPO’s in general have lost popularity with investors since the dot com crisis earlier this decade, the relative strength of Tesla’s IPO may be another herald of success.
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Toyota and Tesla’s Electric Vehicle Prototype Based on the Rav4

Tom Hanks drives a RAV4. Various reports have been coming out regarding Toyota and Tesla’s Electric Vehicle (EV) collaboration. At Tesla’s newly acquired NUMMI plant in California, a joint Toyota-Tesla car is said to be in production. However, both companies have not given their comments regarding the matter.

Despite the two companies’ silence, Tesla spokeswoman Khobi Brooklyn verified that the company has already developed one test-ready electric vehicle which will be based on a Toyota platform. The EV is supposedly going to be presented to the public in 2011. Based on Bloomberg Business Week’s report, Tesla will be delivering test versions of the RAV4 and Lexus RX crossovers. Among these two, RAV4 has proven its effectiveness as an EV. Its EV experience is proof that the RAV4 mania is here to stay.

Indeed, Toyota has already proven that an EV innovation can work through their famous RAV4. The RAV4 EV became available to the public way back in 1997. Most of these cars were left on utility fleets, while 300 of these were leased to the public until its last year of production in 2003. Remaining RAV4 cars were never squashed and squeezed.
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