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Monday, February 01, 2010

Green IPO Watch at Renewableenergystocks.com Reports on Tesla Motors $100 Million IPO

Green IPO Watch at Renewableenergystocks.com Reports on Tesla Motors $100 Million IPO

Electric Car Maker Files S1 Registration


POINT ROBERTS, WA – February 1, 2010 - www.RenewableEnergyStocks.com,
a leading investor news and research portal for the renewable energy sector within www.Investorideas.com,
reports Tesla Motors, Inc has filed an S1 Registration on January 29th with the SEC for a $100 Million IPO.

Underwriters include Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities.

Tesla Motors, based in Palo Alto, California, designs, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.

According to the filing , the company as of December 31, 2009 had sold 937 Tesla Roadsters to customers in 18 countries.

The company reports in the filing,” The Tesla Roadster, our first vehicle, showcases our technology and illustrates our leadership in electric vehicle innovation. Introduced in 2008, the Tesla Roadster can accelerate from zero to 60 miles per hour in 3.9 seconds, but produces zero tailpipe emissions. The Tesla Roadster has a battery pack capable of storing approximately 53 kilowatt-hours of usable energy, almost double the energy of any other commercially available electric vehicle battery pack. The Tesla Roadster has a range of 236 miles on a single charge, as determined by an independent third party using the United States Environmental Protection Agency’s, or EPA’s, combined two-cycle city/highway test. Recently, the EPA announced its intention to develop and establish new energy efficiency testing methodologies for electric vehicles, which we believe could result in a significant decrease to the advertised ranges of all electric vehicles, including ours. The Tesla Roadster reportedly set a new world distance record of 313 miles for a production electric car in a rally across Australia as part of the 2009 Global Green Challenge. To date, our customers have driven their Tesla Roadsters an estimated 3.0 million miles.”

More from the filing:
Automotive Sales

“To date, most of our revenues have been generated through sales in the United States. We had no revenues from sales outside of the United States prior to the third quarter of 2009 and revenue from sales outside of the United States represented 14% of our total revenues for the nine months ended September 30, 2009. Our international sales commenced with the launch of the Tesla Roadster in Europe in July 2009.

Automotive sales during the nine months ended September 30, 2008 in the amount of $0.6 million were derived primarily from the sale of ZEV credits. ZEV credit sales increased from $0.5 million during the nine months ended September 30, 2008 to $7.6 million during the nine months ended September 30, 2009. Although we did not recognize revenue from the sale of Tesla Roadsters during the nine months ended September 30, 2008, we generated ZEV credits from the delivery of vehicles during such period which we sold to a third party automobile manufacturer. As sales of the Tesla Roadster increased during the nine month period ended September 30, 2009, sales of ZEV credits also increased.

Substantially all of the increase in automotive sales to $93.4 million for the nine months ended September 30, 2009 was due to sales of the Tesla Roadster. During the nine month period ended September 30, 2009, we recognized revenue related to the sale of 706 Tesla Roadsters. A significant portion of the revenue recognized during this period came from fulfilling reservations placed prior to 2009.”

Read the full S1 Registration filed at Sec.gov

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http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp


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1 comment:

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