Tesla Motors IPO
Tesla Motors IPO Expected
On Friday, word came in that electric car manufacturer Tesla Motors may soon go public.
With an IPO filing expected shortly, Tesla will become the first U.S. automaker to go public since Ford in 1956.
While Tesla is known primarily for its high-priced electric sportscar, the Roadster, the company is now developing a lower-cost electric sedan that's expected to carry a price tag of about $50,000.
This past July, Tesla had achieved profitability after announcing earnings of $1 million on revenue of $20 million.
We'll keep you posted as more develops.
And according to Algerian sources, Algeria's state-owned utility Sonelgaz is going to invest $100 million in a new solar plant.
The bidding for contractors is expected to begin before the end of the year, and the facility is expected to be completed in 2012, with a capacity of 50 megawatts.