Sunday, July 18, 2010

Tesla Motors goes public, will partner with Toyota on all-electric RAV-4

Tesla Motors, the maker of a super-quick, long-range, all-electric sports roadster, began offering stock for sale on June 29. Tesla, which is based in Palo Alto, Calif., is the first American automaker to go public since Ford did more than 50 years ago.

Tesla, which goes by “TSLA” on the NASDAQ exchange, raised $226.1 million in its initial public offering, according to Its shares sold for $20.64 apiece as of July 16.

A Tesla roadster owned by Bill Clark of Maryland was one of the biggest hits at the first Solar and Wind Expo, which took place in May – especially for those persons lucky enough to go for even a brief spin in the car. The roadster can accelerate from zero to 60 in under four seconds.

In another recent development, Tesla and Toyota announced that they plan to revive an all-electric version of Toyota’s RAV4. The small SUV will combine the RAV4 body with a Tesla electric powertrain. Toyota manufactured an all-electric version of the RAV4 in the 1990’s, and a number of these cars were sold in California. An electric RAV4 owned by Robert Neighbour, a member of the Electric Vehicle Association of D.C., that he brought to The Solar and Wind Expo also drew many visitors and much attention.