Electric car maker Tesla Motors plans IPO

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Associated Press

Posted on January 29, 2010 at 4:00 PM

NEW YORK (AP) — Electric car manufacturer Tesla Motors Inc. says it is planning a public offering of stock

The Palo Alto, Calif.-based company says in a filing with the Securities and Exchange Commission on Friday it plans to go public. But it did not set a date for when it will start selling stock.

An initial public offering at Tesla has been anticipated for months. The company makes the $109,000 Roadster sports car, but it has plans to start selling cheaper electric vehicles in the future.

In its filing, Tesla says it lost money between 2006 and 2008, and in the first nine months of last year it lost $31.5 million.

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