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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Abu Dhabi sells stake in Tesla electric car firm Back to Topics
REPLIES (newest first) Post a Reply
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dsaine
Champion Author North Carolina

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Message Posted: Apr 9, 2012 8:33:05 AM

Ok
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humblepie
Champion Author Toledo

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Message Posted: Apr 9, 2012 8:32:41 AM

alot more poor folk then rich folk
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twinfanMN
Champion Author Minnesota

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Message Posted: Apr 9, 2012 8:32:38 AM

Make these electric cars affordable
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Double_Golden
Champion Author San Francisco

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Message Posted: Apr 9, 2012 8:30:46 AM

ok
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adr47
Champion Author Saskatchewan

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Message Posted: Apr 9, 2012 8:29:45 AM

High end od electric = limited market
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sljbc475
Champion Author Tucson

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Message Posted: Apr 9, 2012 8:28:36 AM

Tesla probably wont last as long as the other car makers.
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humancry
Champion Author Michigan

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Message Posted: Apr 9, 2012 8:27:41 AM

WELL THEY SELL THERE MOTHERS WHY NOT!
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Old Timer
Champion Author Akron

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Message Posted: Apr 9, 2012 8:27:25 AM

Cost too much
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JagXKR
Champion Author British Columbia

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Message Posted: Apr 9, 2012 8:27:11 AM

Sporty golf carts.
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DrCashFlow
Champion Author Massachusetts

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Message Posted: Apr 9, 2012 8:26:59 AM

not a surprise. overvalued
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yakstar
Champion Author Montreal

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Message Posted: Apr 9, 2012 8:26:04 AM

not who did they sell to but why?
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PerSonneL
Champion Author Alberta

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Message Posted: Apr 9, 2012 8:26:03 AM

wow..good sign?
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mikesr100
Champion Author Sacramento

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Message Posted: Apr 9, 2012 8:25:47 AM

People that care about gas prices aren't going to by a Tesla
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guru36525
Veteran Author Montgomery

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Message Posted: Apr 9, 2012 8:25:36 AM

all of a sudden, money is running from solar...hmmm...glad I didn't invest any
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cssco
Champion Author Virginia

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Message Posted: Apr 9, 2012 8:24:59 AM

I am retaining my shares for a rainy day.
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Blazer197
Champion Author New Haven

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Message Posted: Apr 9, 2012 8:22:08 AM

WHO THE HELL CARES.
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mnorthwood13
Champion Author Michigan

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Message Posted: Apr 9, 2012 8:21:51 AM

This is bad for Tesla. Such a promising group for electric car design.
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Group23
Champion Author Greensboro

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Message Posted: Apr 9, 2012 8:20:31 AM

Who did they sell TO?
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jamieg2012
Veteran Author Sioux Falls

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Message Posted: Apr 9, 2012 8:20:29 AM

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
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eights
Champion Author Ohio

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Message Posted: Apr 9, 2012 8:20:27 AM

go figure with gas at this price. i wonder if they have stock in these electric cars?
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Rick01
Champion Author Utah

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Message Posted: Apr 9, 2012 8:19:39 AM

Decided it wasn't a good investment?
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greenfog
Champion Author Illinois

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Message Posted: Apr 9, 2012 8:18:09 AM

opec countries investing in electric cars, makes you think about it!
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NGEFE
All-Star Author Provo

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Message Posted: Apr 9, 2012 8:17:21 AM

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.
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esquared
Champion Author Oklahoma City

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Message Posted: Apr 9, 2012 8:17:00 AM

The weakness of abbreviated (or poor) journalism: Abu Dhabi sells...to WHOM?!
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Ticobird
Champion Author Huntsville

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Message Posted: Apr 9, 2012 8:16:58 AM

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.
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ModelWarships
Champion Author Missouri

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Message Posted: Apr 9, 2012 8:15:48 AM

oh oh, another bankruptcy in the making?
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NorthglennBill
Champion Author Denver

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Message Posted: Apr 9, 2012 8:15:25 AM

Electric vehicles continue to grow in acceptance.
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lucky69
Champion Author Austin

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Message Posted: Apr 9, 2012 8:15:15 AM

that is good to hear.
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TAT36
Champion Author Florida

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Message Posted: Apr 9, 2012 8:13:11 AM

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.
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GManCo
Champion Author Colorado Springs

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Message Posted: Apr 9, 2012 8:11:55 AM

Most of these are going to go under or loose a lot of money. People don't want them.
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wingryder92
Champion Author British Columbia

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Message Posted: Apr 9, 2012 8:11:06 AM

Interesting insight by fatboy97, bears looking into!!
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CrappieFool
Champion Author Alabama

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Message Posted: Apr 9, 2012 8:10:15 AM

Where is the Tesla economy priced car?
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TRAIN RIDER
Champion Author San Bernardino

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Message Posted: Apr 9, 2012 8:09:40 AM

No wonder since Tesla is having financial problems.
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honkerman
Champion Author San Jose

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Message Posted: Apr 9, 2012 8:09:11 AM

fatboy97, that's a very good and perceptive question.
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tampacrvdriver
Champion Author Tampa

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Message Posted: Apr 9, 2012 8:08:49 AM

I'm not surprised.
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OldMoses
All-Star Author Atlanta

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Message Posted: Apr 9, 2012 8:08:43 AM

It was already profitable for the investors.
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mazdaboy
Champion Author Portland

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Message Posted: Apr 9, 2012 8:08:17 AM

Either he's stupid or the buyer is.
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fatboy97
Champion Author Twin Cities

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Message Posted: Apr 9, 2012 8:06:30 AM

If it's going to be profitable next year, why would someone sell their shares???
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OldMoses
All-Star Author Atlanta

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Message Posted: Apr 9, 2012 8:05:52 AM

The Tesla stock doubled in value and the investors sold it and took the profit. It doesn't really mean anything.
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grammamNV
Champion Author Nevada

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Message Posted: Apr 9, 2012 8:04:49 AM

okie-dokie
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peanutsMN
Champion Author Twin Cities

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Message Posted: Apr 9, 2012 8:03:10 AM

OK
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cmsense
Champion Author Columbus

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Message Posted: Apr 9, 2012 8:02:06 AM

Once R&D produce a battery that pushes recharging to 400 miles, and can be quick charged, electric cars will become common.
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AriesMMD
Champion Author Sacramento

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Message Posted: Apr 9, 2012 8:01:53 AM

Eventually the price will drop, like what has happened to big screen TV's, computers and soon smart phones
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YaBassa
Champion Author Michigan

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Message Posted: Apr 9, 2012 8:00:40 AM

Tesla is still too expensive, buy a Volt.
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swede
Champion Author Cleveland

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Message Posted: Apr 9, 2012 7:59:45 AM

I would like to see how profitable it is. If the Saudi's thought it was profitable they would not have sold it.
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unicornpmb
Champion Author Buffalo

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Message Posted: Apr 9, 2012 7:59:21 AM

Not one in my future.
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lordaaron
Champion Author Bakersfield

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Message Posted: Apr 9, 2012 7:58:58 AM

@ 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.
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snappytom2
Champion Author Corpus Christi

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Message Posted: Apr 9, 2012 7:57:32 AM

Teslas are high dollar electric Tonka toys, not for the average car buyer.
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Rageagainsttm
Champion Author Tampa

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Message Posted: Apr 9, 2012 7:57:12 AM

cool
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Marken79
Rookie Author Iowa

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Message Posted: Apr 9, 2012 7:55:18 AM

The govt. whants you to use more electric vehicals but cant understand why people wont buy thim. IT COST TO MUCH...
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30mpg80
Champion Author Lexington

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Message Posted: Apr 9, 2012 7:55:16 AM

Electric vehicles only need to be 'accepted' by the buyers, and it doesn't matter what anyone else thinks about it!
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tobasco
Champion Author Los Angeles

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Message Posted: Apr 9, 2012 7:54:29 AM

Nothing more than collectors will buy these.
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