Tesla Motors, the high flying electric car manufacturer focused on making luxury sports vehicles, has decided to test its luck in the waters of the public stock exchange. The company announced this afternoon it had filed a S-1 registration for an initial public offering, or IPO.
Goldman, Sachs & Co., Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are acting as the joint book-running managers for the offering, according to Tesla. The number of shares being offered and the price range of the offering have not yet been determined at this time either.
This IPO decision comes on the heels of a recent announcement of Tesla securing a $465 million dollar loan from the U.S. Department of Energy “for construction of a manufacturing facility in southern California on the Model S electric sedan and a power-train manufacturing facility in Palo Alto, California.” The Palo Alto facility, said the DoE, will assemble electric vehicle battery packs, electric motors, and related electric vehicle control equipment, both for Tesla’s own electric vehicles and for sale to other automobile manufacturers.