Today was a big day for Tesla, with the company’s shares finally trading on Nasdaq and investors pouring in more than $226 million into its coffers. As with any major Wall Street listing, Tesla needed to submit an IPO filing to the SEC detailing its structure, future plans and just exactly where investor money would be going.
IPO filings are usually a boon for company information and Tesla’s is no different. The electric car start-up has revealed through its IPO filing that it will use investor funds to pay for possible acquisitions and factories to start producing the Model S electric sedan and that its second generation Roadster model, due in 2013, will be built completely in-house.
The current Tesla Roadster is based on a Lotus Elise/Exige ‘glider’, which is essentially a rolling chassis delivered to Tesla’s Californian facilities from Lotus’ factory in Hethel, UK. Tesla basically installs its electric drivetrain technology and its own interior.
Production of the first generation Roadster is expected to stop at the end of 2011 and the new model not arrive until 2013--and only after the Model S.