Tesla Prepares for $167 Million IPO

Electric car maker Tesla Motors Inc. will raise up to $167 million in an initial public offering stock sale.
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Tesla Prepares for $167 Million IPO
ELECTRIC IPO: A Tesla Motors Model S is displayed in the Tesla showroom on May 20, 2010 in Palo Alto, California. Telsa is preparing for its upcoming IPO. (Justin Sullivan/Getty Images)
6/16/2010
Updated:
10/1/2015

<a><img src="https://www.theepochtimes.com/assets/uploads/2015/09/tesla100031566.jpg" alt="ELECTRIC IPO: A Tesla Motors Model S is displayed in the Tesla showroom on May 20, 2010 in Palo Alto, California. Telsa is preparing for its upcoming IPO. (Justin Sullivan/Getty Images)" title="ELECTRIC IPO: A Tesla Motors Model S is displayed in the Tesla showroom on May 20, 2010 in Palo Alto, California. Telsa is preparing for its upcoming IPO. (Justin Sullivan/Getty Images)" width="320" class="size-medium wp-image-1818557"/></a>
ELECTRIC IPO: A Tesla Motors Model S is displayed in the Tesla showroom on May 20, 2010 in Palo Alto, California. Telsa is preparing for its upcoming IPO. (Justin Sullivan/Getty Images)
Electric car maker Tesla Motors Inc. will raise up to $167 million in an initial public offering stock sale slated to begin late this month. The company, in a Securities and Exchange Commission filing this week, said that it would sell 12.8 million shares for between $14 and $16 per share.

Toyota Motor Corp. will purchase around $50 million worth of the stock in a private placement transaction, giving the Japanese firm a 4 percent ownership in the California-based carmaker.

Currently, Tesla is testing its Model S all-electric sedan, which will retail around $55,000.