Tesla Motors Inc. is a U.S. auto company that produces electric car(s).
Its initial public offering (of stock) was very succesful. It raised $226m, $40m more than had been predicted and its shares rose from $17 to $23.89 during the first day of trading. It was the first auto company IPO since Ford in 1956.
Tesla is a small but very innovative car company. It produces only one model the Tesla Roadster, an electric (not hybrid) plug-in sports car based on the Lotus Elise. It's a fast, reliable and fun to drive car that can go from 0-100 Km/h in less than four seconds, this is largely due to the fact that its peak torque starts at 0 rpm!
Tesla needed the raised capital in order to develop a larger four-door sports car (Model S) that can be mass-produced and allow the company to actually turn in a profit. Tesla's bet is that the public will move closer to electric motoring and that it will choose it's products over the more established carmakers.
Other companies have tried in the past to produce entirely electric cars but withhttp://news.bbc.co.uk/2/hi/business/10321555.stm
litte little success. This time it's different, the technology is ripe and will continue impoving and Tesla has all the potential to be the company that will change the "rules of the game". One day, not very long from now the majority of cars will be electric and gasoline powered engines will cover a niche market. In my opinion Tesla is showing us the future of automobiles.