U.S. electric carmaker Tesla files for IPO

* Files for IPO for up to $100 mln

* IPO timing capitalizes on environmental enthusiasm

By Poornima Gupta

SAN FRANCISCO, Jan 29 (BestGrowthStock) – U.S. electric sports car
maker Tesla Motors filed for an initial public offering of up
to $100 million on Friday amid growing interest in green
technology and battery-powered vehicles.

The IPO filing from the six-year-old start-up, best known
for its $109,000 all-electric Roadster, marks the first public
offering from a U.S. automaker since Henry Ford’s Ford Motor Co
(F.N: ) made its share debut in 1956.

It also represents a landmark in the resurgence of electric
car technology that most carmakers until recently had dismissed
as impractical.

The underwriters for Tesla’s offering include Goldman
Sachs, Morgan Stanley, JP Morgan and Deutsche Bank Securities.

The company did not provide any details on the price of the
shares or when it would debut.

Tesla said in the filing with the U.S. Securities and
Exchange Commission that the company had sold 937 Roadsters in
18 countries since it was founded.

The company, named after scientist and inventor Nikola
Tesla, also received about 2,000 reservations from customers
for a second lower-cost model, an electric sedan known as the
Model S, that it is developing.

Tesla said it has generated $108.2 million in revenue since
its inception through September.

Tesla’s investors include Google Inc (Read more about Google Stock Analysis) (GOOG.O: ) founders
Sergey Brin and Larry Page.

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(Additional reporting by Laura Isensee in Los Angeles; editing
by Leslie Gevirtz)

U.S. electric carmaker Tesla files for IPO