Electric car maker Tesla Motors, Inc. announced Friday that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering (IPO) of its common stock.
The company aims to raise up to $100 million, according to reports. It will be the first IPO for an American automaker since Ford (NYSE: F) went public in 1956. Ford is just one of the major automakers with which Tesla intends to compete in the years ahead.
Last month the company closed a $465 million loan with the Department of Energy to build an all-electric sedan and power facility in Palo, Alto California.
The company is already making and selling the all-electric Roadster, which has a sale price of about $109,000.
Tesla is part-owned by Daimler (NYSE: DAI) and Aabar Investments PJSC, of Abu Dhabi.
Goldman, Sachs & Co. (NYSE: GS), Morgan Stanley (NYSE: MS), J.P. Morgan (NYSE: JPM) and Deutsche Bank Securities (NYSE: DB) are acting as the joint book-running managers for the offering.
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