Car Sex: What does a Tesla look like and can I charge it?

“Tesla Bets On Electric Car's Future
By Dan Strumpf, AP Auto Writer
Manufacturing.Net - June 28, 2010

NEW YORK (AP) -- Tesla Motors Inc. begins selling stock to the public on Tuesday. The sale's success depends on how much investors are willing to bet on a car company that has never made a profit, sells a single vehicle and expects to lose money until at least 2012.

As for the car, it's electric -- a kind of vehicle Americans have shown almost no appetite for -- and it's very pricey.

But the Palo Alto, Calif., startup believes Americans' taste in cars is changing. Most analysts agree with Tesla that the internal combustion engine will soon make room for greener forms of powering cars, such as electricity, as gas prices rise and environmental worries mount.

But Tesla faces bigger questions than just consumer taste. It has lost $290.2 million since it was founded in 2003 and has never had a profitable quarter. It doesn't expect the red ink to go away until it starts selling its next vehicle, a four-door electric sedan called the Model S, in large numbers. That isn't scheduled "until 2012, or possibly later," according to its business plan filed with the Securities and Exchange Commission.

The only car that Tesla now offers isn't exactly a hot seller. Priced at more than $100,000, the two-door Roadster showed the world what electric cars can do, like accelerate to 60 mph in under 4 seconds. But Tesla has sold just 1,000 since 2008.

"They're going to have to have a dazzling road show explaining their numbers, which are not good," said Scott Sweet, who owns the research firm IPO Boutique.

Tesla will be the first automaker to go public since Ford Motor Co. held its initial public offering in 1956. It expects the stock sale to raise up to $185 million, which will fund the Model S and other corporate activities. The sale includes 11.1 million shares priced between $14 and $16.

Tesla's goal is to build 20,000 Model S sedans a year, which are expected to cost about $50,000 after federal tax credits. Tesla's production target puts it on par with other sporty luxury car brands, like Porsche, which sold about 20,000 cars in the U.S. last year.”