Tesla Seeking Hot $250 Million Cash Injection For Whitestar Sedan

Illustration for article titled Tesla Seeking Hot $250 Million Cash Injection For Whitestar Sedan

The boys (and gal) over at our sister site obsessed with Silicon Valley let us know earlier Tesla's looking for a hot cash injection via IPO to help the purportedly struggling Whitestar sedan. According to Valleywag:

"Tesla Motors, which finally shipped its first electric car earlier this month, hopes to raise $250 million in equity and debt to fund its mass production push, over the next two years. Chairman Elon Musk wants to conduct an IPO in New York or London, raise money privately and apply for a loan guarantee from the Department of Energy to build a U.S. production plant for Tesla's forthcoming electric sports sedan."

Hmm, we guess the rumors of the Whitestar's demise were slightly overstated. Nope, it's only dead if they can't get themselves the money necessary to build it. [via Valleywag]

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DISCUSSION

ranwhenparked
ranwhenparked

I think its so quaint that they even bother to pretend being interested in an offering in New York. Lets face it, in today's regulatory climate, with SarbOx and all, no promising little tech startup in their right mind would list in the US.

Make no mistake about it, Tesla is heading to Britain for more than just contract manufacturing.