January 29, 2010 / 10:47 PM / in 7 years

U.S. electric carmaker Tesla files for IPO

2 Min Read

* Files for IPO for up to $100 mln

* IPO timing capitalizes on environmental enthusiasm

By Poornima Gupta

SAN FRANCISCO, Jan 29 (Reuters) - U.S. electric sports car maker Tesla Motors filed for an initial public offering of up to $100 million on Friday amid growing interest in green technology and battery-powered vehicles.

The IPO filing from the six-year-old start-up, best known for its $109,000 all-electric Roadster, marks the first public offering from a U.S. automaker since Henry Ford's Ford Motor Co (F.N) made its share debut in 1956.

It also represents a landmark in the resurgence of electric car technology that most carmakers until recently had dismissed as impractical.

The underwriters for Tesla's offering include Goldman Sachs, Morgan Stanley, JP Morgan and Deutsche Bank Securities.

The company did not provide any details on the price of the shares or when it would debut.

Tesla said in the filing with the U.S. Securities and Exchange Commission that the company had sold 937 Roadsters in 18 countries since it was founded.

The company, named after scientist and inventor Nikola Tesla, also received about 2,000 reservations from customers for a second lower-cost model, an electric sedan known as the Model S, that it is developing.

Tesla said it has generated $108.2 million in revenue since its inception through September.

Tesla's investors include Google Inc (GOOG.O) founders Sergey Brin and Larry Page. (Additional reporting by Laura Isensee in Los Angeles; editing by Leslie Gevirtz)

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