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Abu Dhabi sells stake in Tesla electric car firm

BBC News -- State owned power supplier Abu Dhabi National Energy (TAQA) has sold its 7% stake in US electric carmaker Tesla.

TAQA, three-quarter owned by the government, said it made a profit of $113m (£71m) on the sale.

Tesla was founded in 2003 and its best car is the 2008 Tesla Roadster, which is sold in 32 countries.

The company, which also has part shares owned by carmakers Daimler and Toyota, has seen its 2010 share listing price of $10 double since then.

Tesla expects to become profitable in 2013 and envisages a tripling of revenues this, helped by July deliveries of its premium electric car, the Model S.

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Submitted Apr 09, 2012 By: dasAuto

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dsaine Champion Author North Carolina Posts:3,007 Points:634,445 Joined:May 2011	Message Posted: Apr 9, 2012 8:33:05 AM Ignore dsaine Report Abuse Ok
humblepie Champion Author Toledo Posts:34,303 Points:2,373,320 Joined:Mar 2006	Message Posted: Apr 9, 2012 8:32:41 AM Ignore humblepie Report Abuse alot more poor folk then rich folk
twinfanMN Champion Author Minnesota Posts:1,633 Points:457,255 Joined:Jun 2011	Message Posted: Apr 9, 2012 8:32:38 AM Ignore twinfanMN Report Abuse Make these electric cars affordable
Double_Golden Champion Author San Francisco Posts:2,570 Points:606,585 Joined:Aug 2011	Message Posted: Apr 9, 2012 8:30:46 AM Ignore Double_Golden Report Abuse ok
adr47 Champion Author Saskatchewan Posts:5,667 Points:1,178,750 Joined:Nov 2008	Message Posted: Apr 9, 2012 8:29:45 AM Ignore adr47 Report Abuse High end od electric = limited market
sljbc475 Champion Author Tucson Posts:4,230 Points:874,325 Joined:Dec 2010	Message Posted: Apr 9, 2012 8:28:36 AM Ignore sljbc475 Report Abuse Tesla probably wont last as long as the other car makers.
humancry Champion Author Michigan Posts:4,618 Points:1,002,455 Joined:Nov 2006	Message Posted: Apr 9, 2012 8:27:41 AM Ignore humancry Report Abuse WELL THEY SELL THERE MOTHERS WHY NOT!
Old Timer Champion Author Akron Posts:3,752 Points:1,264,965 Joined:Sep 2003	Message Posted: Apr 9, 2012 8:27:25 AM Ignore Old Timer Report Abuse Cost too much
JagXKR Champion Author British Columbia Posts:3,169 Points:1,093,330 Joined:Dec 2009	Message Posted: Apr 9, 2012 8:27:11 AM Ignore JagXKR Report Abuse Sporty golf carts.
DrCashFlow Champion Author Massachusetts Posts:7,075 Points:1,629,095 Joined:Jun 2008	Message Posted: Apr 9, 2012 8:26:59 AM Ignore DrCashFlow Report Abuse not a surprise. overvalued
yakstar Champion Author Montreal Posts:2,430 Points:480,845 Joined:Jan 2012	Message Posted: Apr 9, 2012 8:26:04 AM Ignore yakstar Report Abuse not who did they sell to but why?
PerSonneL Champion Author Alberta Posts:1,188 Points:736,915 Joined:Mar 2008	Message Posted: Apr 9, 2012 8:26:03 AM Ignore PerSonneL Report Abuse wow..good sign?
mikesr100 Champion Author Sacramento Posts:3,903 Points:1,082,685 Joined:Apr 2008	Message Posted: Apr 9, 2012 8:25:47 AM Ignore mikesr100 Report Abuse People that care about gas prices aren't going to by a Tesla
guru36525 Veteran Author Montgomery Posts:423 Points:492,145 Joined:Mar 2005	Message Posted: Apr 9, 2012 8:25:36 AM Ignore guru36525 Report Abuse all of a sudden, money is running from solar...hmmm...glad I didn't invest any
cssco Champion Author Virginia Posts:7,337 Points:1,753,480 Joined:Feb 2006	Message Posted: Apr 9, 2012 8:24:59 AM Ignore cssco Report Abuse I am retaining my shares for a rainy day.
Blazer197 Champion Author New Haven Posts:3,240 Points:615,150 Joined:Feb 2009	Message Posted: Apr 9, 2012 8:22:08 AM Ignore Blazer197 Report Abuse WHO THE HELL CARES.
mnorthwood13 Champion Author Michigan Posts:1,385 Points:763,935 Joined:Apr 2010	Message Posted: Apr 9, 2012 8:21:51 AM Ignore mnorthwood13 Report Abuse This is bad for Tesla. Such a promising group for electric car design.
Group23 Champion Author Greensboro Posts:1,243 Points:438,440 Joined:May 2006	Message Posted: Apr 9, 2012 8:20:31 AM Ignore Group23 Report Abuse Who did they sell TO?
jamieg2012 Veteran Author Sioux Falls Posts:286 Points:11,385 Joined:Jan 2012	Message Posted: Apr 9, 2012 8:20:29 AM Ignore jamieg2012 Report Abuse from all the info i get the tesla is so expensive it is not a realistic car sure if you have billions to play with then you can do what you want but the average person this is not realistic
eights Champion Author Ohio Posts:2,284 Points:641,995 Joined:Aug 2006	Message Posted: Apr 9, 2012 8:20:27 AM Ignore eights Report Abuse go figure with gas at this price. i wonder if they have stock in these electric cars?
Rick01 Champion Author Utah Posts:9,028 Points:2,364,525 Joined:Sep 2005	Message Posted: Apr 9, 2012 8:19:39 AM Ignore Rick01 Report Abuse Decided it wasn't a good investment?
greenfog Champion Author Illinois Posts:6,500 Points:1,640,970 Joined:Feb 2008	Message Posted: Apr 9, 2012 8:18:09 AM Ignore greenfog Report Abuse opec countries investing in electric cars, makes you think about it!
NGEFE Veteran Author Provo Posts:339 Points:469,225 Joined:Jun 2011	Message Posted: Apr 9, 2012 8:17:21 AM Ignore NGEFE Report Abuse they will never completely grow in acceptance until you can go 400 miles on a charge and only take 10 minutes (or less) to recharge. Oh and the price needs to be in line with a real car - both purchase price and maintenance costs.
esquared Champion Author Oklahoma City Posts:8,072 Points:1,971,085 Joined:Jan 2006	Message Posted: Apr 9, 2012 8:17:00 AM Ignore esquared Report Abuse The weakness of abbreviated (or poor) journalism: Abu Dhabi sells...to WHOM?!
Ticobird Champion Author Huntsville Posts:3,241 Points:1,117,965 Joined:Oct 2009	Message Posted: Apr 9, 2012 8:16:58 AM Ignore Ticobird Report Abuse The story is newsworthy but I would have appreciated one more little bit of information pertaining to the story and that is who did Abu Dhabi sell their stake to? What is passing for news reporting these days? At the least the reporter could have disclosed the Tesla buyer remained anonymous if it is truly permissible to remain anonymous. I don't know.
ModelWarships Champion Author Missouri Posts:5,805 Points:1,234,035 Joined:Jul 2008	Message Posted: Apr 9, 2012 8:15:48 AM Ignore ModelWarships Report Abuse oh oh, another bankruptcy in the making?
NorthglennBill Champion Author Denver Posts:7,432 Points:1,474,645 Joined:Oct 2008	Message Posted: Apr 9, 2012 8:15:25 AM Ignore NorthglennBill Report Abuse Electric vehicles continue to grow in acceptance.
lucky69 Champion Author Austin Posts:2,766 Points:1,470,315 Joined:May 2008	Message Posted: Apr 9, 2012 8:15:15 AM Ignore lucky69 Report Abuse that is good to hear.
TAT36 Champion Author Florida Posts:6,814 Points:1,305,950 Joined:Sep 2009	Message Posted: Apr 9, 2012 8:13:11 AM Ignore TAT36 Report Abuse fatboy97 - You are right a year does not seem long if you are going to make a profit. Maybe just not as much as they made on the sale. Do we have any subsidy tax money in Tesla? Just askin.
GManCo Champion Author Colorado Springs Posts:5,006 Points:953,540 Joined:Sep 2010	Message Posted: Apr 9, 2012 8:11:55 AM Ignore GManCo Report Abuse Most of these are going to go under or loose a lot of money. People don't want them.
wingryder92 Champion Author British Columbia Posts:5,702 Points:560,930 Joined:Apr 2011	Message Posted: Apr 9, 2012 8:11:06 AM Ignore wingryder92 Report Abuse Interesting insight by fatboy97, bears looking into!!
CrappieFool All-Star Author Alabama Posts:785 Points:571,145 Joined:Apr 2009	Message Posted: Apr 9, 2012 8:10:15 AM Ignore CrappieFool Report Abuse Where is the Tesla economy priced car?
TRAIN RIDER Champion Author San Bernardino Posts:9,092 Points:2,759,770 Joined:Oct 2004	Message Posted: Apr 9, 2012 8:09:40 AM Ignore TRAIN RIDER Report Abuse No wonder since Tesla is having financial problems.
honkerman Champion Author San Jose Posts:44,332 Points:2,399,045 Joined:Jul 2004	Message Posted: Apr 9, 2012 8:09:11 AM Ignore honkerman Report Abuse fatboy97, that's a very good and perceptive question.
tampacrvdriver Champion Author Tampa Posts:3,361 Points:713,410 Joined:May 2011	Message Posted: Apr 9, 2012 8:08:49 AM Ignore tampacrvdriver Report Abuse I'm not surprised.
OldMoses All-Star Author Atlanta Posts:749 Points:56,335 Joined:Sep 2008	Message Posted: Apr 9, 2012 8:08:43 AM Ignore OldMoses Report Abuse It was already profitable for the investors.
mazdaboy Champion Author Portland Posts:7,898 Points:2,100,205 Joined:Aug 2003	Message Posted: Apr 9, 2012 8:08:17 AM Ignore mazdaboy Report Abuse Either he's stupid or the buyer is.
fatboy97 Champion Author Twin Cities Posts:2,494 Points:1,709,525 Joined:Aug 2007	Message Posted: Apr 9, 2012 8:06:30 AM Ignore fatboy97 Report Abuse If it's going to be profitable next year, why would someone sell their shares???
OldMoses All-Star Author Atlanta Posts:749 Points:56,335 Joined:Sep 2008	Message Posted: Apr 9, 2012 8:05:52 AM Ignore OldMoses Report Abuse The Tesla stock doubled in value and the investors sold it and took the profit. It doesn't really mean anything.
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Apr 9, 2012 8:04:49 AM Ignore grammamNV Report Abuse okie-dokie
peanutsMN Champion Author Twin Cities Posts:1,693 Points:387,840 Joined:Jul 2011	Message Posted: Apr 9, 2012 8:03:10 AM Ignore peanutsMN Report Abuse OK
cmsense Champion Author Columbus Posts:1,358 Points:165,345 Joined:Jan 2012	Message Posted: Apr 9, 2012 8:02:06 AM Ignore cmsense Report Abuse Once R&D produce a battery that pushes recharging to 400 miles, and can be quick charged, electric cars will become common.
AriesMMD Champion Author Sacramento Posts:1,496 Points:413,490 Joined:Dec 2011	Message Posted: Apr 9, 2012 8:01:53 AM Ignore AriesMMD Report Abuse Eventually the price will drop, like what has happened to big screen TV's, computers and soon smart phones
YaBassa Champion Author Michigan Posts:2,440 Points:519,050 Joined:Nov 2011	Message Posted: Apr 9, 2012 8:00:40 AM Ignore YaBassa Report Abuse Tesla is still too expensive, buy a Volt.
swede Champion Author Cleveland Posts:3,777 Points:1,677,950 Joined:Feb 2003	Message Posted: Apr 9, 2012 7:59:45 AM Ignore swede Report Abuse I would like to see how profitable it is. If the Saudi's thought it was profitable they would not have sold it.
unicornpmb Champion Author Buffalo Posts:8,501 Points:1,631,465 Joined:Sep 2005	Message Posted: Apr 9, 2012 7:59:21 AM Ignore unicornpmb Report Abuse Not one in my future.
lordaaron Champion Author Bakersfield Posts:2,177 Points:363,755 Joined:Mar 2012	Message Posted: Apr 9, 2012 7:58:58 AM Ignore lordaaron Report Abuse @ taxiken - I see a Tesla regularly here in Bakersfield. The funny part is I think someone in the oil industry drives it. Of course, they are about the only ones who can afford them.
snappytom2 Champion Author Corpus Christi Posts:3,561 Points:275,220 Joined:Jul 2008	Message Posted: Apr 9, 2012 7:57:32 AM Ignore snappytom2 Report Abuse Teslas are high dollar electric Tonka toys, not for the average car buyer.
Rageagainsttm Champion Author Tampa Posts:8,313 Points:1,904,930 Joined:Jul 2007	Message Posted: Apr 9, 2012 7:57:12 AM Ignore Rageagainsttm Report Abuse cool
Marken79 Rookie Author Iowa Posts:58 Points:25,345 Joined:Mar 2012	Message Posted: Apr 9, 2012 7:55:18 AM Ignore Marken79 Report Abuse The govt. whants you to use more electric vehicals but cant understand why people wont buy thim. IT COST TO MUCH...
30mpg80 Champion Author Lexington Posts:10,054 Points:1,489,805 Joined:Nov 2008	Message Posted: Apr 9, 2012 7:55:16 AM Ignore 30mpg80 Report Abuse Electric vehicles only need to be 'accepted' by the buyers, and it doesn't matter what anyone else thinks about it!
tobasco Champion Author Los Angeles Posts:7,351 Points:2,110,810 Joined:Mar 2004	Message Posted: Apr 9, 2012 7:54:29 AM Ignore tobasco Report Abuse Nothing more than collectors will buy these.