Thursday, May 26, 2011

Tesla rolling out stock more to fund "Model X" (AFP)

NEW YORK (AFP) - Tesla Motors announced plans Wednesday to offer another 5.3 million shares in the electric car manufacturer of U.S. public to assist in the development of fuel to another model.

The Tesla based in Palo Alto, California, which was founded in 2003 by Elon Musk, co-founder of PayPal and SpaceX, said that he attached to 795,000 shares his insurer to $26 per share.

In addition, Tesla said musk, CEO of the company, plans to buy shares of 1.5 million directly from Tesla in a private placement and Blackstar Investco, a subsidiary of Daimler of the Germany of purchase of shares up to 644,475 plans.

Tesla hopes to collect various operations $ 214 million and plans to use the money to finance the development of a model crossover X.

In a filing with the Securities and Exchange Commission (SEC), Tesla stated that he plans to produce a prototype of the model x at the end of 2011 and start selling the vehicle in the fourth quarter of 2013.

Tesla says it seeks with model X "integrate the functionality of a minibus with the appeal of the consumption of a sport utility vehicle."

First Tesla car was the Tesla Roadster, a high-performance sports car.

The Tesla Roadster costs more than $ 100,000 and can go nearly 250 miles (400 km) on a single charge.

In the deposit, Tesla said he would end the production of the car in December and released approximately in 1 650 Tesla customers Roadsters in over 31 countries.

Tesla is currently developing a sedan known as the model s four-door. The S model, expected in 2012, at a price of base provided approximately $ 50,000.

Tesla conducted an initial public offer in June of last year, $ 226 million.

Tesla shares acquired 8.46 percent on Wall Street Wednesday to close at $28.98.

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